Brookfield Corporation $BN Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its stake in Brookfield Corporation (NYSE:BN) by 9.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,058,881 shares of the company’s stock after selling 1,204,304 shares during the period. Brookfield comprises about 1.5% of Bank of Nova Scotia’s holdings, making the stock its 14th largest holding. Bank of Nova Scotia’s holdings in Brookfield were worth $826,462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC increased its holdings in Brookfield by 4.1% during the 2nd quarter. SG Americas Securities LLC now owns 4,333 shares of the company’s stock worth $268,000 after purchasing an additional 172 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Brookfield by 7.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,957 shares of the company’s stock valued at $183,000 after buying an additional 197 shares during the period. Savant Capital LLC grew its position in shares of Brookfield by 6.5% during the third quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock worth $253,000 after buying an additional 226 shares in the last quarter. Advisors Capital Management LLC grew its position in shares of Brookfield by 3.2% during the second quarter. Advisors Capital Management LLC now owns 7,440 shares of the company’s stock worth $460,000 after buying an additional 230 shares in the last quarter. Finally, State of Wyoming increased its stake in shares of Brookfield by 7.8% during the third quarter. State of Wyoming now owns 3,301 shares of the company’s stock worth $227,000 after buying an additional 240 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BN. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. BMO Capital Markets increased their price objective on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Monday, December 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Brookfield in a research report on Tuesday, February 17th. Finally, Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.59.

Brookfield Price Performance

Shares of BN opened at $38.38 on Friday. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.56. The stock has a market cap of $94.01 billion, a PE ratio of 77.79 and a beta of 1.58. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.32 and a quick ratio of 1.21. The firm has a fifty day moving average price of $45.60 and a 200 day moving average price of $45.59.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. Brookfield had a return on equity of 3.87% and a net margin of 1.74%.The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. As a group, sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.07 dividend. This is a boost from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield’s payout ratio is currently 48.98%.

About Brookfield

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.