Brookfield Corporation $BN Holdings Lowered by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its stake in Brookfield Corporation (NYSE:BN) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,815,629 shares of the company’s stock after selling 620,685 shares during the period. Brookfield makes up approximately 1.1% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 19th biggest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.29% of Brookfield worth $298,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Scheer Rowlett & Associates Investment Management Ltd. lifted its position in Brookfield by 2.7% in the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,592,795 shares of the company’s stock worth $98,643,000 after purchasing an additional 42,520 shares during the period. PCJ Investment Counsel Ltd. raised its stake in shares of Brookfield by 18.8% in the 2nd quarter. PCJ Investment Counsel Ltd. now owns 110,740 shares of the company’s stock worth $6,858,000 after buying an additional 17,510 shares in the last quarter. Prospera Financial Services Inc raised its stake in shares of Brookfield by 24.4% in the 2nd quarter. Prospera Financial Services Inc now owns 7,875 shares of the company’s stock worth $487,000 after buying an additional 1,543 shares in the last quarter. AGF Management Ltd. lifted its holdings in shares of Brookfield by 7.2% in the second quarter. AGF Management Ltd. now owns 2,438,241 shares of the company’s stock valued at $151,399,000 after buying an additional 164,124 shares during the period. Finally, Metis Global Partners LLC boosted its stake in Brookfield by 10.6% during the second quarter. Metis Global Partners LLC now owns 53,126 shares of the company’s stock valued at $3,288,000 after buying an additional 5,101 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Trading Up 0.1%

Shares of BN opened at $45.72 on Friday. The business’s 50-day moving average price is $45.54 and its 200 day moving average price is $42.51. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $113.15 billion, a P/E ratio of 159.48 and a beta of 1.73. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.47.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 7th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. Analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a report on Friday, October 3rd. National Bank Financial began coverage on shares of Brookfield in a research report on Tuesday, July 29th. They set an “outperform” rating and a $54.67 price objective for the company. Royal Bank Of Canada boosted their target price on shares of Brookfield from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Morgan Stanley set a $54.00 target price on shares of Brookfield and gave the company an “overweight” rating in a research note on Monday, October 13th. Finally, Scotiabank raised their target price on shares of Brookfield from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Brookfield currently has an average rating of “Buy” and a consensus target price of $52.63.

Brookfield 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.