Brookfield Corporation $BN Stock: New South Capital Management Inc. Lowers Stake

New South Capital Management Inc. lowered its stake in Brookfield Corporation (NYSE:BN) by 18.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 992,533 shares of the company’s stock after selling 220,956 shares during the quarter. Brookfield accounts for 2.5% of New South Capital Management Inc.’s portfolio, making the stock its 12th largest position. New South Capital Management Inc.’s holdings in Brookfield were worth $36,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Bank of Nova Scotia raised its stake in Brookfield by 11.4% during the 1st quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock valued at $621,443,000 after buying an additional 1,575,668 shares during the last quarter. 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 purchasing an additional 495,666 shares in the last quarter. Beutel Goodman & Co Ltd. raised its holdings in Brookfield by 6.3% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 6,573,596 shares of the company’s stock worth $240,395,000 after purchasing an additional 386,889 shares during the period. Cardinal Capital Management Inc. raised its holdings in Brookfield by 2.3% in the 3rd quarter. Cardinal Capital Management Inc. now owns 3,321,845 shares of the company’s stock worth $121,503,000 after purchasing an additional 74,218 shares during the period. Finally, Cannell & Spears LLC lifted its position in Brookfield by 1.6% during the first quarter. Cannell & Spears LLC now owns 2,702,625 shares of the company’s stock valued at $109,278,000 after purchasing an additional 42,859 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

BN has been the subject of several recent research reports. BMO Capital Markets raised Brookfield to a “strong-buy” rating in a report on Monday, July 27th. Zacks Research cut Brookfield from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. TD raised their price objective on Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. JPMorgan Chase & Co. raised their price objective on Brookfield from $56.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.70.

Brookfield Stock Performance

BN opened at $42.02 on Thursday. The company has a 50 day simple moving average of $38.29 and a two-hundred day simple moving average of $42.39. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. The firm has a market cap of $103.05 billion, a P/E ratio of 76.40 and a beta of 1.53. Brookfield Corporation has a 1-year low of $35.61 and a 1-year high of $49.56.

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 firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. Equities analysts forecast that Brookfield Corporation will post 2.88 earnings per share for the current fiscal year.

Brookfield 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.