Westerkirk Capital Inc. Sells 12,300 Shares of Brookfield Corporation $BN

Westerkirk Capital Inc. lessened its stake in shares of Brookfield Corporation (NYSE:BN) by 17.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,260 shares of the company’s stock after selling 12,300 shares during the quarter. Westerkirk Capital Inc.’s holdings in Brookfield were worth $4,133,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BN. Vanguard Group Inc. raised its holdings in Brookfield by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 60,559,807 shares of the company’s stock valued at $4,155,251,000 after buying an additional 897,916 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Brookfield by 1.6% in the third quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company’s stock valued at $3,487,338,000 after acquiring an additional 799,440 shares during the period. Akre Capital Management LLC raised its stake in shares of Brookfield by 0.7% during the second quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company’s stock valued at $1,188,713,000 after acquiring an additional 125,269 shares during the last quarter. Norges Bank purchased a new stake in shares of Brookfield during the second quarter worth about $1,040,160,000. Finally, Mackenzie Financial Corp grew its stake in shares of Brookfield by 1.6% in the second quarter. Mackenzie Financial Corp now owns 16,319,256 shares of the company’s stock worth $1,010,616,000 after purchasing an additional 249,913 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on BN. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $52.00 target price (up previously from $50.67) on shares of Brookfield in a report on Friday, November 14th. TD Securities raised their price target on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. BMO Capital Markets boosted their price objective on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Finally, Royal Bank Of Canada raised their target price on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. One investment 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 company’s stock. According to data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus price target of $54.59.

Brookfield Trading Down 0.4%

NYSE BN opened at $45.98 on Friday. The firm has a market capitalization of $112.65 billion, a PE ratio of 93.21 and a beta of 1.57. The stock’s 50 day moving average is $46.61 and its 200 day moving average is $45.69. Brookfield Corporation has a twelve month low of $29.07 and a twelve month high of $49.56. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Brookfield had a return on equity of 3.87% and a net margin of 1.74%.The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Research analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.07 per share. This is an increase from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Brookfield’s dividend payout ratio is 57.14%.

About Brookfield

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.