JARISLOWSKY FRASER Ltd Sells 700,283 Shares of Brookfield Corporation $BN

JARISLOWSKY FRASER Ltd cut its stake in Brookfield Corporation (NYSE:BN) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,806,245 shares of the company’s stock after selling 700,283 shares during the quarter. Brookfield makes up approximately 5.6% of JARISLOWSKY FRASER Ltd’s investment portfolio, making the stock its largest holding. JARISLOWSKY FRASER Ltd owned approximately 0.60% of Brookfield worth $1,016,132,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Brookfield by 7.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,451 shares of the company’s stock valued at $152,000 after purchasing an additional 169 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Brookfield by 4.1% during the second quarter. SG Americas Securities LLC now owns 4,333 shares of the company’s stock worth $268,000 after buying an additional 172 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Brookfield by 7.1% during the second quarter. SBI Securities Co. Ltd. now owns 2,957 shares of the company’s stock worth $183,000 after buying an additional 197 shares in the last quarter. Chicago Capital LLC boosted its holdings in Brookfield by 0.4% in the 2nd quarter. Chicago Capital LLC now owns 56,563 shares of the company’s stock valued at $3,498,000 after purchasing an additional 200 shares during the period. Finally, Rochester Wealth Strategies LLC increased its holdings in shares of Brookfield by 3.0% during the second quarter. Rochester Wealth Strategies LLC now owns 7,825 shares of the company’s stock worth $484,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a report on Monday. Morgan Stanley set a $54.00 price objective on shares of Brookfield and gave the stock an “overweight” rating in a research note on Monday, October 13th. Zacks Research lowered shares of Brookfield from a “hold” rating to a “strong sell” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. upped their price target on shares of Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Finally, CIBC reiterated an “outperform” rating and set a $52.00 price target (up previously from $50.67) on shares of Brookfield in a research report on Friday, November 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.87.

Brookfield Trading Up 1.6%

NYSE BN opened at $46.63 on Friday. The company has a market cap of $115.47 billion, a price-to-earnings ratio of 129.54 and a beta of 1.58. Brookfield Corporation has a twelve month low of $29.07 and a twelve month high of $49.47. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.54. The business’s fifty day moving average is $45.83 and its 200 day moving average is $44.63.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, November 13th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Brookfield had a return on equity of 3.92% and a net margin of 1.34%. As a group, sell-side analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. Brookfield’s dividend payout ratio (DPR) is presently 66.67%.

Brookfield Company Profile

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.