Brookfield Corporation $BN Position Lowered by James Hambro & Partners LLP

James Hambro & Partners LLP cut its position in shares of Brookfield Corporation (NYSE:BN) by 21.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,654,857 shares of the company’s stock after selling 464,288 shares during the period. Brookfield accounts for about 2.1% of James Hambro & Partners LLP’s investment portfolio, making the stock its 18th biggest holding. James Hambro & Partners LLP’s holdings in Brookfield were worth $60,377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Nova Scotia raised its holdings in Brookfield by 11.4% in the first quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock worth $621,443,000 after purchasing an additional 1,575,668 shares in the last quarter. Madison Asset Management LLC purchased a new stake in shares of Brookfield in the 2nd quarter worth about $55,655,000. WCM Investment Management LLC grew its position in shares of Brookfield by 454.4% in the 1st quarter. WCM Investment Management LLC now owns 1,103,817 shares of the company’s stock worth $42,740,000 after buying an additional 904,701 shares during the period. Nykredit A S bought a new position in shares of Brookfield in the 2nd quarter worth about $23,546,000. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Brookfield by 3.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 14,398,936 shares of the company’s stock worth $522,741,000 after acquiring an additional 495,666 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Down 0.6%

Shares of BN traded down $0.23 during trading hours on Monday, hitting $36.40. The company had a trading volume of 1,642,581 shares, compared to its average volume of 5,095,305. The stock has a market capitalization of $89.24 billion, a price-to-earnings ratio of 66.17 and a beta of 1.56. The firm has a fifty day moving average price of $39.22 and a 200-day moving average price of $42.41. Brookfield Corporation has a 52-week low of $35.61 and a 52-week high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. On average, equities research analysts forecast that Brookfield Corporation will post 2.93 EPS for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were issued a $0.07 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.28 annualized dividend and a yield of 0.8%. Brookfield’s payout ratio is 50.91%.

Wall Street Analyst Weigh In

BN has been the topic of a number of recent research reports. Scotia upped their price objective on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Friday, August 14th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the company an “overweight” rating in a report on Tuesday, July 21st. Scotiabank reissued an “outperform” rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Monday, September 21st. Finally, BMO Capital Markets upgraded Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.40.

Brookfield Company 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.