Cardinal Capital Management Inc. boosted its holdings in Brookfield Corporation (NYSE:BN – Free Report) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,321,845 shares of the company’s stock after purchasing an additional 74,218 shares during the quarter. Brookfield makes up about 2.8% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 14th largest holding. Cardinal Capital Management Inc. owned about 0.14% of Brookfield worth $121,503,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in BN. Chemistry Wealth Management LLC raised its holdings in shares of Brookfield by 1.6% during the third quarter. Chemistry Wealth Management LLC now owns 452,459 shares of the company’s stock worth $16,497,000 after purchasing an additional 7,023 shares during the period. TT Capital Management LLC lifted its position in shares of Brookfield by 45.0% in the 3rd quarter. TT Capital Management LLC now owns 39,300 shares of the company’s stock worth $1,433,000 after buying an additional 12,200 shares during the last quarter. Formuepleje A S bought a new position in shares of Brookfield in the 3rd quarter worth about $738,000. Lipe & Dalton lifted its position in shares of Brookfield by 0.3% in the 3rd quarter. Lipe & Dalton now owns 165,381 shares of the company’s stock worth $6,030,000 after buying an additional 551 shares during the last quarter. Finally, Triangle Securities Wealth Management boosted its holdings in shares of Brookfield by 2.6% in the 3rd quarter. Triangle Securities Wealth Management now owns 161,419 shares of the company’s stock valued at $5,885,000 after buying an additional 4,090 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.
Analyst Ratings Changes
BN has been the subject of a number of recent research reports. BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. TD raised their target price on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, Scotia lifted their target price on Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.40.
Get Our Latest Stock Report on Brookfield
Brookfield Price Performance
Shares of BN opened at $36.58 on Friday. Brookfield Corporation has a 12 month low of $35.61 and a 12 month high of $49.56. 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 stock has a fifty day moving average price of $39.22 and a 200 day moving average price of $42.38. The company has a market cap of $89.70 billion, a P/E ratio of 66.51 and a beta of 1.56.
Brookfield (NYSE:BN – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.66 billion. On average, research analysts forecast that Brookfield Corporation will post 2.93 earnings per share for the current year.
Brookfield Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were given a dividend of $0.07 per share. The ex-dividend date was Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Brookfield’s dividend payout ratio is currently 50.91%.
Brookfield Profile
Brookfield Corporation (NYSE: BN) is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.
Brookfield’s businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.
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