Burling Wealth Partners LLC Sells 2,637 Shares of Brookfield Corporation $BN

Burling Wealth Partners LLC reduced its holdings in shares of Brookfield Corporation (NYSE:BN) by 19.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,609 shares of the company’s stock after selling 2,637 shares during the quarter. Burling Wealth Partners LLC’s holdings in Brookfield were worth $656,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in BN. Hilltop National Bank acquired a new position in shares of Brookfield during the 2nd quarter worth about $30,000. Ameritas Advisory Services LLC acquired a new stake in shares of Brookfield in the second quarter valued at about $33,000. Salomon & Ludwin LLC bought a new stake in Brookfield during the second quarter worth about $62,000. Brooklyn Investment Group acquired a new position in Brookfield during the first quarter valued at approximately $54,000. Finally, Carderock Capital Management Inc. bought a new position in Brookfield in the second quarter valued at approximately $68,000. Institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BN. TD Securities upped their price objective on Brookfield from $49.33 to $54.67 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. The Goldman Sachs Group assumed coverage on shares of Brookfield in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $52.00 price objective for the company. Royal Bank Of Canada boosted their price objective on shares of Brookfield from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $52.63.

Brookfield Stock Performance

NYSE BN opened at $43.64 on Friday. The stock has a market cap of $108.01 billion, a PE ratio of 152.24 and a beta of 1.73. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.29. The firm has a 50-day moving average of $45.68 and a 200-day moving average of $42.76. Brookfield Corporation has a 52-week low of $29.07 and a 52-week high of $49.47.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, December 16th. Brookfield’s payout ratio is currently 82.76%.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.