26,398 Brookfield Corporation $BN Shares Sold by Davidson Kahn Capital Management LLC

Key Points

• Davidson Kahn Capital Management cut its Brookfield position by 30.8%, selling 26,398 shares in the third quarter and retaining 59,185 shares valued at approximately $2.16 million. Institutional investors and hedge funds collectively own 61.6% of Brookfield.
• Analysts maintain a generally positive view of Brookfield, with a consensus rating of “Moderate Buy” and an average price target of $57.40. Recent targets range from $54 to $61.
• Brookfield reported quarterly EPS of $0.66, exceeding the $0.62 consensus estimate, and paid a quarterly dividend of $0.07, equivalent to a 0.7% annualized yield.

Davidson Kahn Capital Management LLC decreased its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 30.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,185 shares of the company's stock after selling 26,398 shares during the period. Brookfield comprises approximately 0.9% of Davidson Kahn Capital Management LLC's holdings, making the stock its 26th biggest holding. Davidson Kahn Capital Management LLC's holdings in Brookfield were worth $2,158,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Bank of Nova Scotia raised its position in Brookfield by 11.4% in the first quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company's stock worth $621,443,000 after acquiring an additional 1,575,668 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in Brookfield by 3.6% in the third quarter. TD Waterhouse Canada Inc. now owns 14,398,936 shares of the company's stock worth $522,741,000 after buying an additional 495,666 shares during the last quarter. Cardinal Capital Management Inc. grew its position in Brookfield by 2.3% in the third quarter. Cardinal Capital Management Inc. now owns 3,321,845 shares of the company's stock worth $121,503,000 after acquiring an additional 74,218 shares in the last quarter. Cannell & Spears LLC increased its position in Brookfield by 1.6% during the first quarter. Cannell & Spears LLC now owns 2,702,625 shares of the company's stock worth $109,278,000 after buying an additional 42,859 shares during the last quarter. Finally, Amundi raised its stake in shares of Brookfield by 14.1% in the 1st quarter. Amundi now owns 2,696,723 shares of the company's stock valued at $109,136,000 after acquiring an additional 333,843 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on BN shares. Morgan Stanley set a $59.00 price target on Brookfield and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Scotia increased their target price on Brookfield from $53.00 to $54.00 and gave the stock a "sector outperform" rating in a report on Friday, August 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Brookfield in a research note on Monday, September 21st. TD boosted 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. Finally, Scotiabank reiterated an "outperform" rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Brookfield has a consensus rating of "Moderate Buy" and an average target price of $57.40.

Brookfield Price Performance

Shares of NYSE BN opened at $38.01 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $93.21 billion, a PE ratio of 69.11 and a beta of 1.56. The firm has a fifty day simple moving average of $38.47 and a 200 day simple moving average of $42.76. Brookfield Corporation has a twelve month low of $35.61 and a twelve month high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.66 billion. On average, sell-side analysts forecast that Brookfield Corporation will post 2.88 EPS for the current year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were issued a $0.07 dividend. The ex-dividend date was Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield's dividend payout ratio is currently 50.91%.

About Brookfield

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.

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