Brookfield Corporation $BN Shares Sold by James Hambro & Partners LLP

Key Points

• James Hambro & Partners cut its Brookfield stake by 21.9% in the third quarter, selling 464,288 shares and retaining 1.65 million shares valued at approximately $60.4 million. Institutional investors collectively own 61.6% of Brookfield.
• Brookfield shares fell 0.6% to $36.40, near the lower end of their 52-week range. The company reported quarterly EPS of $0.66, beating analyst expectations of $0.62.
• Analysts remain generally positive, with Brookfield carrying a “Moderate Buy” consensus rating and an average price target of $57.40, well above the current share price. The company also pays a quarterly dividend of $0.07, yielding about 0.8%.

James Hambro & Partners LLP lessened its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 21.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,654,857 shares of the company's stock after selling 464,288 shares during the quarter. Brookfield comprises approximately 2.1% of James Hambro & Partners LLP's portfolio, making the stock its 18th biggest holding. James Hambro & Partners LLP owned 0.07% of Brookfield worth $60,377,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Bank of Nova Scotia grew its stake in Brookfield by 11.4% in 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. Madison Asset Management LLC purchased a new stake in shares of Brookfield in the 2nd quarter valued at about $55,655,000. WCM Investment Management LLC raised its stake in Brookfield by 454.4% in the first quarter. WCM Investment Management LLC now owns 1,103,817 shares of the company's stock valued at $42,740,000 after purchasing an additional 904,701 shares in the last quarter. Nykredit A S bought a new stake in shares of Brookfield during the 2nd quarter worth $23,546,000. Finally, TD Waterhouse Canada Inc. lifted its stake in Brookfield by 3.6% during the third quarter. TD Waterhouse Canada Inc. now owns 14,398,936 shares of the company's stock worth $522,741,000 after purchasing an additional 495,666 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company's stock.

Brookfield Trading Down 0.6%

Brookfield stock traded down $0.23 during mid-day trading on Monday, reaching $36.40. 1,642,581 shares of the company traded hands, compared to its average volume of 5,095,305. 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 firm's 50 day moving average price is $39.22 and its 200 day moving average price is $42.41. The firm has a market capitalization of $89.24 billion, a price-to-earnings ratio of 66.17 and a beta of 1.56. Brookfield Corporation has a 52-week low of $35.61 and a 52-week high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last posted 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. The firm had revenue of $1.66 billion during 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%. On average, analysts anticipate that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors 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 of this dividend was Monday, September 14th. Brookfield's dividend payout ratio is presently 50.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BN shares. Scotiabank reaffirmed an "outperform" rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. Scotia increased their target price on shares of Brookfield from $53.00 to $54.00 and gave the stock a "sector outperform" rating in a report on Friday, August 14th. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research note on Monday, September 21st. Morgan Stanley set a $59.00 price target on Brookfield and gave the company an "overweight" rating in a report on Tuesday, July 21st. Finally, BMO Capital Markets upgraded Brookfield to a "strong-buy" rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.40.

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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