85,193 Shares of Brookfield Corporation $BN Bought by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA initiated a position of 85,193 Brookfield shares worth approximately $3.1 million during the third quarter. Institutional investors collectively own 61.6% of Brookfield.
• Analysts maintain a positive outlook, with Brookfield receiving a consensus “Moderate Buy” rating and an average price target of $57.40.
• Brookfield reported quarterly earnings of $0.66 per share, exceeding estimates of $0.62, and declared a quarterly dividend of $0.07, equivalent to an annualized yield of approximately 0.8%.

Banque Pictet & Cie SA bought a new position in Brookfield Corporation (NYSE:BN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 85,193 shares of the company's stock, valued at approximately $3,115,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Nova Scotia lifted its stake in shares of Brookfield by 11.4% during the 1st quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company's stock valued at $621,443,000 after buying an additional 1,575,668 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in Brookfield by 1.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company's stock valued at $595,676,000 after buying an additional 248,479 shares in the last quarter. Corient Private Wealth LLC grew its stake in Brookfield by 40.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,891,403 shares of the company's stock valued at $224,571,000 after buying an additional 1,399,216 shares in the last quarter. Cardinal Capital Management Inc. grew its stake in Brookfield by 2.5% in the 2nd quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company's stock valued at $138,287,000 after buying an additional 80,738 shares in the last quarter. Finally, Cannell & Spears LLC raised its holdings in Brookfield by 1.6% during the 1st quarter. Cannell & Spears LLC now owns 2,702,625 shares of the company's stock valued at $109,278,000 after acquiring an additional 42,859 shares during the period. Institutional investors own 61.60% of the company's stock.

Analysts Set New Price Targets

BN has been the topic of several recent research reports. Morgan Stanley set a $59.00 target price on Brookfield and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. Scotiabank reaffirmed an "outperform" rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a research report on Monday, September 21st. BMO Capital Markets upgraded Brookfield to a "strong-buy" rating in a research report on Monday, July 27th. Finally, Scotia boosted their price objective 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 research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.40.

Brookfield Stock Down 0.6%

BN opened at $36.58 on Friday. The firm has a market capitalization of $89.70 billion, a P/E ratio of 66.51 and a beta of 1.56. Brookfield Corporation has a one year low of $35.61 and a one year high of $49.56. The company has a fifty day moving average price of $39.22 and a 200-day moving average price of $42.38. 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 released its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. Equities research analysts expect that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, September 14th. Brookfield's dividend payout ratio is currently 50.91%.

Brookfield Profile

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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