58,538 Brookfield Corporation $BN Shares Sold by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments cut its Brookfield position by 66.3% in the third quarter, selling 58,538 shares and retaining 29,704 shares valued at approximately $1.09 million. Institutional investors collectively own 61.6% of Brookfield.
• Brookfield shares fell 1.0% to $36.66, near the lower end of their 12-month range. The company recently beat quarterly earnings expectations with EPS of $0.66 versus a $0.62 consensus estimate.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $57.40. Brookfield also maintains a quarterly dividend of $0.07 per share, representing a 0.8% annualized yield.

Montrusco Bolton Investments Inc. lessened its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 66.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,704 shares of the company's stock after selling 58,538 shares during the quarter. Montrusco Bolton Investments Inc.'s holdings in Brookfield were worth $1,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Meadow Creek Wealth Advisors LLC increased its holdings in Brookfield by 2.3% during the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company's stock valued at $417,000 after acquiring an additional 234 shares in the last quarter. State of Wyoming lifted its holdings in shares of Brookfield by 6.0% in the first quarter. State of Wyoming now owns 5,151 shares of the company's stock valued at $208,000 after purchasing an additional 290 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Brookfield by 2.6% in the second quarter. Central Pacific Bank Trust Division now owns 11,800 shares of the company's stock valued at $503,000 after purchasing an additional 300 shares in the last quarter. West Family Investments Inc. grew its position in shares of Brookfield by 4.0% in the second quarter. West Family Investments Inc. now owns 7,890 shares of the company's stock valued at $336,000 after purchasing an additional 304 shares during the last quarter. Finally, Gould Asset Management LLC CA grew its position in shares of Brookfield by 3.6% in the first quarter. Gould Asset Management LLC CA now owns 8,834 shares of the company's stock valued at $358,000 after purchasing an additional 310 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Trading Down 1.0%

NYSE:BN traded down $0.39 on Tuesday, reaching $36.66. The stock had a trading volume of 6,297,386 shares, compared to its average volume of 5,097,896. Brookfield Corporation has a 12-month low of $35.69 and a 12-month high of $49.56. The company has a market cap of $89.90 billion, a price-to-earnings ratio of 66.66 and a beta of 1.56. The firm's fifty day moving average is $39.85 and its two-hundred day moving average is $42.49. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. Equities analysts expect that Brookfield Corporation will post 2.93 EPS for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors 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 dividend on an annualized basis and a yield of 0.8%. Brookfield's dividend payout ratio (DPR) is 50.91%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BMO Capital Markets upgraded Brookfield to a "strong-buy" rating in a research report on Monday, July 27th. TD upped their target price on Brookfield from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Friday, August 14th. Scotia increased their target price on Brookfield from $53.00 to $54.00 and gave the company a "sector outperform" rating in a report on Friday, August 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a report on Monday, September 21st. Finally, Morgan Stanley set a $59.00 price target on Brookfield and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.40.

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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