Brookfield Corporation $BN Stock Holdings Lessened by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn cut its Brookfield holdings by 39.8% in Q3, selling 1,918,122 shares and ending the quarter with 2,897,507 shares worth about $198.8 million.
• Other large institutions (Capital World, Vanguard, Principal) added to positions—institutional ownership stands at 61.60%—and analysts have lifted targets, leaving a consensus rating of "Moderate Buy" with an average price target of $54.59.
• Brookfield beat quarterly EPS estimates ($0.67 vs. $0.61), raised its quarterly dividend from $0.06 to $0.07 (annualized $0.28, yield ~0.7%), and has a market cap near $99.3 billion.

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 39.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,897,507 shares of the company's stock after selling 1,918,122 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of Brookfield worth $198,765,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital World Investors lifted its holdings in Brookfield by 2.4% in the third quarter. Capital World Investors now owns 68,313,662 shares of the company's stock worth $4,685,103,000 after acquiring an additional 1,624,085 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Brookfield by 1.5% during the third quarter. Vanguard Group Inc. now owns 60,559,807 shares of the company's stock valued at $4,155,251,000 after purchasing an additional 897,916 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Brookfield by 1.6% during the 3rd quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company's stock worth $3,487,338,000 after purchasing an additional 799,440 shares during the period. Akre Capital Management LLC raised its position in shares of Brookfield by 0.7% during the 2nd quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company's stock worth $1,188,713,000 after purchasing an additional 125,269 shares during the period. Finally, Norges Bank bought a new stake in shares of Brookfield in the 2nd quarter worth approximately $1,040,160,000. Institutional investors and hedge funds own 61.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BN shares. Royal Bank Of Canada boosted their price objective on Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Scotiabank reiterated an "outperform" rating and issued a $52.00 target price (up from $49.00) on shares of Brookfield in a research note on Friday, February 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a report on Monday, December 29th. Morgan Stanley restated an "overweight" rating and set a $60.00 price target on shares of Brookfield in a research report on Tuesday, February 17th. Finally, BMO Capital Markets increased their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. 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 stock. According to MarketBeat.com, Brookfield currently has a consensus rating of "Moderate Buy" and an average target price of $54.59.

Brookfield Price Performance

Shares of Brookfield stock opened at $40.54 on Thursday. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.56. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.48. The stock has a market cap of $99.32 billion, a PE ratio of 82.18 and a beta of 1.58. The company's 50-day moving average price is $45.91 and its two-hundred day moving average price is $45.66.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. As a group, sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, March 17th. This is a positive change from Brookfield's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield's payout ratio is 48.98%.

Brookfield Profile

Brookfield Corporation NYSE: BN is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield's services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.

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