Brookfield Corporation $BN Shares Sold by Baskin Financial Services Inc.

Baskin Financial Services Inc. reduced its position in Brookfield Corporation (NYSE:BN) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,262,547 shares of the company’s stock after selling 23,474 shares during the quarter. Brookfield comprises approximately 3.7% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 10th biggest holding. Baskin Financial Services Inc.’s holdings in Brookfield were worth $46,030,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Meadow Creek Wealth Advisors LLC lifted its position in shares of Brookfield by 2.3% in the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company’s stock worth $417,000 after buying an additional 234 shares during the last quarter. State of Wyoming grew its position in shares of Brookfield by 6.0% during the 1st quarter. State of Wyoming now owns 5,151 shares of the company’s stock valued at $208,000 after buying an additional 290 shares during the last quarter. Central Pacific Bank Trust Division grew its position in shares of Brookfield by 2.6% during the 2nd quarter. Central Pacific Bank Trust Division now owns 11,800 shares of the company’s stock valued at $503,000 after buying an additional 300 shares during the last quarter. West Family Investments Inc. raised its stake in Brookfield by 4.0% during the second quarter. West Family Investments Inc. now owns 7,890 shares of the company’s stock worth $336,000 after acquiring an additional 304 shares during the period. Finally, Gould Asset Management LLC CA raised its stake in Brookfield by 3.6% during the first quarter. Gould Asset Management LLC CA now owns 8,834 shares of the company’s stock worth $358,000 after acquiring an additional 310 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BN. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Scotia upped their target price on Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a report on Friday, August 14th. TD increased their price target on Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Scotiabank reissued 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, BMO Capital Markets raised Brookfield to a “strong-buy” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.40.

Brookfield Stock Performance

Shares of Brookfield stock traded down $0.22 during trading on Monday, hitting $36.40. 1,523,458 shares of the stock were exchanged, compared to its average volume of 5,094,383. The stock’s fifty day moving average is $39.22 and its 200 day moving average is $42.41. The stock has a market cap of $89.25 billion, a PE ratio of 66.21 and a beta of 1.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. Brookfield Corporation has a 12 month low of $35.61 and a 12 month high of $49.56.

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

Brookfield Dividend Announcement

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

Brookfield Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.