Brookfield Corporation $BN Shares Bought by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. boosted its position in shares of Brookfield Corporation (NYSE:BN) by 6.3% in the third quarter, Holdings Channel reports. The fund owned 6,573,596 shares of the company’s stock after purchasing an additional 386,889 shares during the quarter. Brookfield comprises 1.9% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 22nd biggest holding. Beutel Goodman & Co Ltd.’s holdings in Brookfield were worth $240,395,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BN. Fortitude Family Office LLC purchased a new position in Brookfield in the third quarter worth about $26,000. Silicon Valley Capital Partners bought a new stake in shares of Brookfield during the 2nd quarter valued at about $32,000. Kings Path Partners LLC bought a new stake in shares of Brookfield during the 3rd quarter valued at about $35,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Brookfield by 203.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,229 shares of the company’s stock valued at $50,000 after purchasing an additional 824 shares during the last quarter. Finally, Virginia Estate & Retirement Planning Advisors Inc. purchased a new stake in shares of Brookfield during the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Scotiabank reiterated an “outperform” rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. Zacks Research lowered shares of Brookfield from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. BMO Capital Markets upgraded shares of Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a report on Monday, September 21st. Finally, TD increased their price target on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $57.40.

Brookfield Price Performance

NYSE BN opened at $42.98 on Tuesday. The company has a market capitalization of $105.42 billion, a PE ratio of 78.15 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. The business’s fifty day moving average is $38.22 and its 200 day moving average is $42.44. Brookfield Corporation has a fifty-two week low of $35.61 and a fifty-two week high of $49.56.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. Sell-side analysts predict that Brookfield Corporation will post 2.88 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 14th. Brookfield’s payout ratio is presently 50.91%.

Brookfield Company Profile

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors.

The company’s operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.

Brookfield traces its origins to 1899, when its predecessor, Brazilian Traction, Light and Power Company, was established to develop electricity and transportation services in Brazil.