Bank of Nova Scotia Trust Co. Decreases Position in Brookfield Corporation (NYSE:BN)

Key Points

• Bank of Nova Scotia Trust Co. has reduced its stake in Brookfield Corporation by 1.6%, now holding 404,480 shares valued at approximately $21.2 million, making Brookfield its 13th largest holding.
• Institutional investors control 61.60% of Brookfield's shares, with several companies like Malaga Cove Capital and PNC Financial Services increasing their positions significantly in the first quarter.
• Brookfield's recent earnings report showed a profit of $0.98 per share, exceeding estimates, while the company also announced a quarterly dividend of $0.09 per share.

Bank of Nova Scotia Trust Co. decreased its position in Brookfield Corporation (NYSE:BN - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 404,480 shares of the company's stock after selling 6,537 shares during the period. Brookfield comprises approximately 2.3% of Bank of Nova Scotia Trust Co.'s portfolio, making the stock its 13th biggest holding. Bank of Nova Scotia Trust Co.'s holdings in Brookfield were worth $21,199,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. American Century Companies Inc. lifted its stake in shares of Brookfield by 3.6% during the 4th quarter. American Century Companies Inc. now owns 64,088 shares of the company's stock valued at $3,684,000 after buying an additional 2,200 shares in the last quarter. Orion Portfolio Solutions LLC lifted its holdings in Brookfield by 1.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company's stock worth $955,000 after purchasing an additional 197 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Brookfield by 86.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 314,143 shares of the company's stock valued at $18,037,000 after buying an additional 146,082 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Brookfield by 8.4% during the fourth quarter. Franklin Resources Inc. now owns 675,214 shares of the company's stock valued at $38,761,000 after buying an additional 52,116 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Brookfield by 32.0% in the fourth quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company's stock worth $460,489,000 after buying an additional 1,930,218 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Trading Up 0.5%

Shares of NYSE:BN traded up $0.36 during trading hours on Wednesday, hitting $67.54. 2,486,442 shares of the company's stock traded hands, compared to its average volume of 2,639,472. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.18. The business has a fifty day moving average price of $62.39 and a 200-day moving average price of $57.66. Brookfield Corporation has a 1 year low of $42.39 and a 1 year high of $68.75. The firm has a market capitalization of $111.36 billion, a P/E ratio of 241.22 and a beta of 1.70.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Equities analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, June 13th. Brookfield's dividend payout ratio is presently 128.57%.

Analyst Ratings Changes

Several research firms recently issued reports on BN. Royal Bank Of Canada began coverage on Brookfield in a research note on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price objective for the company. CIBC dropped their price target on Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a research report on Friday, May 9th. TD Securities raised their target price on shares of Brookfield from $74.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday. Scotiabank lifted their target price on shares of Brookfield from $69.00 to $75.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Finally, National Bank Financial began coverage on shares of Brookfield in a report on Tuesday, July 29th. They issued an "outperform" rating and a $82.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.80.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.