East Coast Asset Management LLC. Has $5.28 Million Stock Holdings in Brookfield Corporation $BN

East Coast Asset Management LLC. lowered its position in shares of Brookfield Corporation (NYSE:BN) by 74.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,336 shares of the company’s stock after selling 248,698 shares during the quarter. Brookfield makes up approximately 1.8% of East Coast Asset Management LLC.’s holdings, making the stock its 14th biggest holding. East Coast Asset Management LLC.’s holdings in Brookfield were worth $5,278,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BN. Creative Planning boosted its holdings in Brookfield by 10.1% in the second quarter. Creative Planning now owns 487,077 shares of the company’s stock valued at $30,126,000 after acquiring an additional 44,822 shares during the last quarter. AGF Management Ltd. lifted its position in Brookfield by 7.2% during the 2nd quarter. AGF Management Ltd. now owns 2,438,241 shares of the company’s stock valued at $151,399,000 after purchasing an additional 164,124 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. lifted its position in 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 period. C WorldWide Group Holding A S boosted its stake in shares of Brookfield by 96.3% in the 2nd 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 during the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Brookfield by 4.4% during the 2nd quarter. Cetera Investment Advisers now owns 378,895 shares of the company’s stock worth $23,407,000 after buying an additional 15,854 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of BN stock opened at $45.64 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 12-month low of $29.07 and a 12-month high of $49.47. The firm has a fifty day moving average of $45.56 and a 200-day moving average of $43.89. The firm has a market capitalization of $112.99 billion, a price-to-earnings ratio of 126.76 and a beta of 1.57.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Brookfield had a return on equity of 3.92% and a net margin of 1.34%.The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. On average, equities research analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BN shares. The Goldman Sachs Group initiated coverage on shares of Brookfield in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $52.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research note on Monday. TD Securities lifted their price objective on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Morgan Stanley set a $54.00 price objective on Brookfield and gave the company an “overweight” rating in a report on Monday, October 13th. Finally, CIBC reissued an “outperform” rating and issued a $52.00 target price (up previously from $50.67) on shares of Brookfield in a research note on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $53.47.

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.