Vanguard Group Inc. Sells 1,230,986 Shares of Brookfield Corporation $BN

Vanguard Group Inc. reduced its stake in shares of Brookfield Corporation (NYSE:BN) by 2.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,661,891 shares of the company’s stock after selling 1,230,986 shares during the quarter. Vanguard Group Inc.’s holdings in Brookfield were worth $3,692,534,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Culbertson A N & Co. Inc. boosted its position in Brookfield by 5.7% in the 2nd quarter. Culbertson A N & Co. Inc. now owns 96,186 shares of the company’s stock valued at $5,949,000 after buying an additional 5,175 shares during the period. Intrust Bank NA raised its stake in shares of Brookfield by 20.0% during the second quarter. Intrust Bank NA now owns 7,455 shares of the company’s stock valued at $461,000 after acquiring an additional 1,240 shares in the last quarter. Mar Vista Investment Partners LLC boosted its holdings in shares of Brookfield by 4.0% in the second quarter. Mar Vista Investment Partners LLC now owns 128,456 shares of the company’s stock valued at $7,945,000 after purchasing an additional 4,999 shares during the period. Financial Gravity Companies Inc. bought a new position in Brookfield in the second quarter worth approximately $51,000. Finally, Rockefeller Capital Management L.P. increased its holdings in Brookfield by 20.7% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 235,945 shares of the company’s stock worth $14,593,000 after purchasing an additional 40,537 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of Brookfield stock opened at $43.70 on Thursday. The company has a market capitalization of $108.16 billion, a PE ratio of 152.45 and a beta of 1.73. The company has a 50-day simple moving average of $45.60 and a two-hundred day simple moving average of $43.01. Brookfield Corporation has a one year low of $29.07 and a one year high of $49.47. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.29.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. Research analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, December 16th. Brookfield’s payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BN shares. National Bank Financial initiated coverage on Brookfield in a report on Tuesday, July 29th. They issued an “outperform” rating and a $54.67 target price for the company. CIBC reaffirmed an “outperform” rating and issued a $52.00 price objective (up from $50.67) on shares of Brookfield in a research note on Friday, November 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield in a report on Wednesday, October 8th. National Bankshares set a $54.67 price target on shares of Brookfield and gave the company an “outperform” rating in a report on Tuesday, July 29th. Finally, Scotiabank upped their price target on shares of Brookfield from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $53.47.

Brookfield Company 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.