Brookfield Corporation $BN Position Reduced by Cooke & Bieler LP

Cooke & Bieler LP cut its holdings in Brookfield Corporation (NYSE:BN) by 28.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,496,727 shares of the company’s stock after selling 980,686 shares during the period. Cooke & Bieler LP’s holdings in Brookfield were worth $91,031,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Fortitude Family Office LLC purchased a new stake in Brookfield during the third quarter valued at about $26,000. Silicon Valley Capital Partners purchased a new position in shares of Brookfield in the second quarter worth about $32,000. Virginia Estate & Retirement Planning Advisors Inc. purchased a new position in shares of Brookfield in the third quarter worth about $46,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Brookfield by 203.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,229 shares of the company’s stock valued at $50,000 after acquiring an additional 824 shares during the last quarter. Finally, First Horizon Corp lifted its stake in shares of Brookfield by 71.0% in the 1st quarter. First Horizon Corp now owns 1,553 shares of the company’s stock valued at $63,000 after acquiring an additional 645 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BN shares. Morgan Stanley set a $59.00 target price on Brookfield and gave the company an “overweight” rating in a report on Tuesday, July 21st. Scotiabank restated an “outperform” rating and set a $54.00 price target (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. Zacks Research cut Brookfield from a “hold” rating to a “strong sell” rating in a research note on Monday. BMO Capital Markets upgraded Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.40.

Brookfield Price Performance

BN stock opened at $37.48 on Thursday. The stock has a market capitalization of $91.91 billion, a price-to-earnings ratio of 68.15 and a beta of 1.56. The firm’s 50-day moving average price is $38.77 and its two-hundred day moving average price is $42.33. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 12-month low of $35.61 and a 12-month high of $49.56.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. The company had revenue of $1.66 billion during 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%. As a group, equities analysts predict that Brookfield Corporation will post 2.88 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield’s dividend payout ratio is presently 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.