Vanguard Group Inc. Cuts Stake in Brookfield Corporation $BN

Vanguard Group Inc. lessened its holdings in shares of Brookfield Corporation (NYSE:BN) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,661,891 shares of the company’s stock after selling 1,230,986 shares during the quarter. Vanguard Group Inc. owned about 3.62% of Brookfield worth $3,692,534,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Creative Planning boosted its position in shares of Brookfield by 10.1% during the second quarter. Creative Planning now owns 487,077 shares of the company’s stock worth $30,126,000 after acquiring an additional 44,822 shares during the last quarter. AGF Management Ltd. lifted its stake in Brookfield by 7.2% in the 2nd quarter. AGF Management Ltd. now owns 2,438,241 shares of the company’s stock worth $151,399,000 after purchasing an additional 164,124 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of Brookfield by 13.5% during the 1st quarter. Chicago Partners Investment Group LLC now owns 290,942 shares of the company’s stock valued at $16,261,000 after purchasing an additional 34,573 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in shares of Brookfield by 2.7% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,592,795 shares of the company’s stock valued at $98,643,000 after purchasing an additional 42,520 shares during the last quarter. Finally, C WorldWide Group Holding A S grew its position in shares of Brookfield by 96.3% during the second quarter. C WorldWide Group Holding A S now owns 45,515 shares of the company’s stock valued at $2,815,000 after purchasing an additional 22,331 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Trading Up 0.6%

BN stock opened at $43.70 on Thursday. Brookfield Corporation has a twelve month low of $29.07 and a twelve month high of $49.47. The stock has a market capitalization of $108.16 billion, a price-to-earnings ratio of 152.45 and a beta of 1.73. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50. The firm’s fifty day simple moving average is $45.60 and its two-hundred day simple moving average is $43.01.

Brookfield (NYSE:BN) last released its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. As a group, analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, December 16th. Brookfield’s payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BN shares. Zacks Research lowered Brookfield from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Morgan Stanley set a $54.00 price objective on Brookfield and gave the stock an “overweight” rating in a report on Monday, October 13th. CIBC reissued an “outperform” rating and issued a $52.00 target price (up from $50.67) on shares of Brookfield in a report on Friday, November 14th. Wall Street Zen upgraded shares of Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets increased their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $53.47.

About Brookfield

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.