Connor Clark & Lunn Investment Management Ltd. Has $298.24 Million Stock Position in Brookfield Corporation $BN

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in Brookfield Corporation (NYSE:BN) by 11.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,815,629 shares of the company’s stock after selling 620,685 shares during the period. Brookfield comprises about 1.1% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 19th largest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Brookfield were worth $298,235,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BN. Hilltop National Bank acquired a new position in shares of Brookfield in the 2nd quarter valued at about $30,000. Ameritas Advisory Services LLC purchased a new position in Brookfield during the second quarter valued at approximately $33,000. Brooklyn Investment Group acquired a new position in Brookfield in the 1st quarter valued at approximately $54,000. SouthState Corp lifted its position in Brookfield by 734.8% in the 1st quarter. SouthState Corp now owns 1,127 shares of the company’s stock worth $59,000 after buying an additional 992 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Brookfield during the 2nd quarter valued at $62,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BN shares. JPMorgan Chase & Co. upped their price target on shares of Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Cowen restated a “buy” rating on shares of Brookfield in a research note on Friday, August 8th. Zacks Research raised Brookfield from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Royal Bank Of Canada lifted their price target on Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Scotiabank increased their price objective on Brookfield from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $52.63.

Brookfield Price Performance

NYSE BN opened at $45.72 on Friday. Brookfield Corporation has a fifty-two week low of $29.07 and a fifty-two week high of $49.47. The stock’s 50-day moving average is $45.54 and its two-hundred day moving average is $42.51. The firm has a market cap of $113.15 billion, a P/E ratio of 159.48 and a beta of 1.73. 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 (NYSE:BN) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. Brookfield had a return on equity of 3.77% and a net margin of 1.11%.The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. On average, analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

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.