62,138 Brookfield Corporation $BN Shares Acquired by Sowell Financial Services LLC

Sowell Financial Services LLC grew its holdings in shares of Brookfield Corporation (NYSE:BN) by 50.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,147 shares of the company’s stock after purchasing an additional 62,138 shares during the quarter. Sowell Financial Services LLC’s holdings in Brookfield were worth $6,714,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BN. Cardinal Capital Management Inc. grew its holdings 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 buying an additional 80,738 shares in the last quarter. Headlands Technologies LLC boosted its position in shares of Brookfield by 181.4% in the second quarter. Headlands Technologies LLC now owns 91,785 shares of the company’s stock valued at $3,909,000 after acquiring an additional 59,166 shares during the period. Concurrent Investment Advisors LLC grew its stake in Brookfield by 520.1% during the second quarter. Concurrent Investment Advisors LLC now owns 47,684 shares of the company’s stock valued at $2,031,000 after acquiring an additional 39,994 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in Brookfield by 1.8% during the second quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company’s stock valued at $595,676,000 after acquiring an additional 248,479 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in 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.

Analysts Set New Price Targets

Several research firms have recently weighed in on BN. Scotiabank reaffirmed 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. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. BMO Capital Markets raised Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. Morgan Stanley set a $59.00 target price on Brookfield and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Finally, Zacks Research lowered Brookfield from a “hold” rating to a “strong sell” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.40.

Brookfield Stock Performance

NYSE:BN opened at $37.33 on Wednesday. The company has a market capitalization of $91.52 billion, a price-to-earnings ratio of 67.86 and a beta of 1.56. The business has a 50 day moving average of $38.92 and a 200 day moving average of $42.36. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. Brookfield Corporation has a 1-year low of $35.61 and a 1-year high of $49.56.

Brookfield (NYSE:BN) last released its earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. The company had revenue of $1.66 billion for 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%. On average, sell-side analysts predict that Brookfield Corporation will post 2.88 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, September 14th. Brookfield’s 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.