First Horizon Advisors Inc. Sells 4,444 Shares of Brookfield Corporation $BN

First Horizon Advisors Inc. lessened its stake in shares of Brookfield Corporation (NYSE:BN) by 80.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,050 shares of the company’s stock after selling 4,444 shares during the period. First Horizon Advisors Inc.’s holdings in Brookfield were worth $65,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BN. Pershing Square Capital Management L.P. grew its stake in shares of Brookfield by 17.5% in the first quarter. Pershing Square Capital Management L.P. now owns 41,004,657 shares of the company’s stock worth $2,149,054,000 after acquiring an additional 6,111,593 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Brookfield by 83.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,699,178 shares of the company’s stock worth $403,514,000 after purchasing an additional 3,500,003 shares in the last quarter. Regents of The University of California grew its position in Brookfield by 123.1% during the 1st quarter. Regents of The University of California now owns 5,986,137 shares of the company’s stock valued at $313,733,000 after purchasing an additional 3,303,102 shares during the last quarter. Baillie Gifford & Co. grew its position in Brookfield by 31.0% during the 1st quarter. Baillie Gifford & Co. now owns 4,816,082 shares of the company’s stock valued at $252,411,000 after purchasing an additional 1,140,558 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Brookfield by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 60,892,877 shares of the company’s stock valued at $3,186,707,000 after purchasing an additional 988,419 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

BN stock opened at $45.72 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 1.18. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.47. The company has a market cap of $113.15 billion, a P/E ratio of 159.48 and a beta of 1.73. The stock’s fifty day moving average price is $45.54 and its 200-day moving average price is $42.57.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Brookfield had a return on equity of 3.77% and a net margin of 1.11%. On average, equities analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BN shares. National Bankshares set a $54.67 target price on shares of Brookfield and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada upped their price objective on Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. JPMorgan Chase & Co. lifted their target price on Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a report on Friday, October 3rd. BMO Capital Markets upped their price target on Brookfield from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, National Bank Financial started coverage on Brookfield in a research report on Tuesday, July 29th. They set an “outperform” rating and a $54.67 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $52.63.

Brookfield Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.