Brookfield Corporation $BN Stock Acquired by Sowell Financial Services LLC

Sowell Financial Services LLC boosted its position in Brookfield Corporation (NYSE:BN) by 50.9% during the third quarter, Holdings Channel.com reports. The fund owned 184,147 shares of the company’s stock after acquiring an additional 62,138 shares during the period. Sowell Financial Services LLC’s holdings in Brookfield were worth $6,714,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Cardinal Capital Management Inc. raised its position in Brookfield by 2.5% during the 2nd quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company’s stock valued at $138,287,000 after purchasing an additional 80,738 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Brookfield by 181.4% in the 2nd quarter. Headlands Technologies LLC now owns 91,785 shares of the company’s stock worth $3,909,000 after buying an additional 59,166 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of Brookfield by 520.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 47,684 shares of the company’s stock worth $2,031,000 after buying an additional 39,994 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Brookfield by 1.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company’s stock worth $595,676,000 after buying an additional 248,479 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Brookfield during the second quarter valued at approximately $5,498,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of BN opened at $37.33 on Wednesday. The company has a market capitalization of $91.52 billion, a P/E ratio of 67.86 and a beta of 1.56. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The firm has a 50 day moving average of $38.92 and a 200 day moving average of $42.36. Brookfield Corporation has a twelve month low of $35.61 and a twelve month high of $49.56.

Brookfield (NYSE:BN) last announced 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 company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. As a group, equities research analysts anticipate that Brookfield Corporation will post 2.88 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm 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 of this dividend was Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Brookfield’s payout ratio is 50.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BN shares. Scotiabank reaffirmed an “outperform” rating and issued a $54.00 target price (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. Zacks Research cut shares of Brookfield from a “hold” rating to a “strong sell” rating in a research report on Monday. 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. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. Finally, BMO Capital Markets upgraded shares of Brookfield to a “strong-buy” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.40.

About Brookfield

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.