Brookfield Corporation $BN Stock: Montrusco Bolton Investments Inc. Trims Position

Montrusco Bolton Investments Inc. trimmed its holdings in Brookfield Corporation (NYSE:BN) by 66.3% during the third quarter, Holdings Channel reports. The institutional investor owned 29,704 shares of the company’s stock after selling 58,538 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Brookfield were worth $1,086,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BN. Royal Bank of Canada grew its holdings in Brookfield by 40.5% in the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock valued at $5,215,504,000 after buying an additional 32,760,558 shares during the period. First Manhattan CO. LLC. lifted its holdings in shares of Brookfield by 47.5% during the 4th quarter. First Manhattan CO. LLC. now owns 23,795,141 shares of the company’s stock worth $1,093,985,000 after acquiring an additional 7,662,565 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Brookfield by 11.4% during the 1st quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock worth $621,443,000 after acquiring an additional 1,575,668 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of Brookfield by 1.8% in the second quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company’s stock worth $595,676,000 after acquiring an additional 248,479 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Brookfield by 40.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,891,403 shares of the company’s stock worth $224,571,000 after acquiring an additional 1,399,216 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Trading Down 1.0%

NYSE:BN traded down $0.39 on Tuesday, hitting $36.66. 6,297,386 shares of the stock were exchanged, compared to its average volume of 5,097,896. The stock has a market cap of $89.90 billion, a PE ratio of 66.66 and a beta of 1.56. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The stock has a fifty day moving average of $39.85 and a 200-day moving average of $42.49. Brookfield Corporation has a fifty-two week low of $35.69 and a fifty-two week high of $49.56.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. As a group, equities analysts expect that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were issued a dividend of $0.07 per share. The ex-dividend date was Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. Brookfield’s payout ratio is presently 50.91%.

Analyst Ratings Changes

BN has been the subject of a number of recent analyst reports. BMO Capital Markets upgraded shares of Brookfield to a “strong-buy” rating in a report on Monday, July 27th. TD increased their price target on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Scotia increased their price target on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. Scotiabank reiterated an “outperform” rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. Finally, Morgan Stanley set a $59.00 price objective on shares of Brookfield and gave the company an “overweight” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.

Brookfield Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield’s businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.