Guardian Partners Inc. Sells 15,382 Shares of Brookfield Corporation $BN

Guardian Partners Inc. lowered its stake in shares of Brookfield Corporation (NYSE:BN) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 439,672 shares of the company’s stock after selling 15,382 shares during the period. Brookfield comprises 1.4% of Guardian Partners Inc.’s investment portfolio, making the stock its 19th biggest position. Guardian Partners Inc.’s holdings in Brookfield were worth $16,200,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of BN. Sowell Financial Services LLC raised its holdings in shares of Brookfield by 50.9% during the third quarter. Sowell Financial Services LLC now owns 184,147 shares of the company’s stock valued at $6,714,000 after acquiring an additional 62,138 shares during the last quarter. Luma Capital S.A. SPF purchased a new position in shares of Brookfield in the third quarter valued at approximately $9,828,000. Pinnacle Associates Ltd. boosted its stake in shares of Brookfield by 6.4% in the third quarter. Pinnacle Associates Ltd. now owns 10,618 shares of the company’s stock worth $387,000 after acquiring an additional 642 shares during the last quarter. Diversify Advisory Services LLC boosted its stake in shares of Brookfield by 9.1% in the third quarter. Diversify Advisory Services LLC now owns 12,247 shares of the company’s stock worth $451,000 after acquiring an additional 1,022 shares during the last quarter. Finally, QV Investors Inc. boosted its stake in shares of Brookfield by 32.6% in the third quarter. QV Investors Inc. now owns 861,190 shares of the company’s stock worth $31,494,000 after acquiring an additional 211,741 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE:BN traded up $0.38 during midday trading on Wednesday, hitting $37.70. The company had a trading volume of 1,924,723 shares, compared to its average volume of 5,086,143. Brookfield Corporation has a twelve month low of $35.61 and a twelve month high of $49.56. The stock has a market cap of $92.43 billion, a price-to-earnings ratio of 68.50 and a beta of 1.56. 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 business’s 50-day simple moving average is $38.92 and its 200-day simple moving average is $42.36.

Brookfield (NYSE:BN) last released its quarterly earnings data 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 for 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%. On average, research analysts predict that Brookfield Corporation will post 2.88 earnings per share for the current year.

Brookfield Dividend Announcement

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

Wall Street Analysts Forecast Growth

BN has been the subject of several recent research reports. BMO Capital Markets raised Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. TD lifted their target price on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Zacks Research cut shares of Brookfield from a “hold” rating to a “strong sell” rating in a research note on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research report on Monday, September 21st. Finally, Scotia raised their price target on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.