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Brookfield Corporation (NYSE:BN) Shares Sold by DAVENPORT & Co LLC

Brookfield logo with Finance background

DAVENPORT & Co LLC lowered its position in Brookfield Corporation (NYSE:BN - Free Report) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,097,024 shares of the company's stock after selling 340,148 shares during the quarter. Brookfield accounts for 2.8% of DAVENPORT & Co LLC's investment portfolio, making the stock its biggest position. DAVENPORT & Co LLC owned 0.55% of Brookfield worth $474,816,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BN. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Brookfield in the 1st quarter valued at $26,000. ST Germain D J Co. Inc. acquired a new stake in Brookfield in the 1st quarter valued at $28,000. CoreCap Advisors LLC purchased a new position in Brookfield in the fourth quarter valued at about $29,000. Golden State Wealth Management LLC raised its position in Brookfield by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock valued at $31,000 after purchasing an additional 296 shares during the period. Finally, Sunbelt Securities Inc. lifted its stake in shares of Brookfield by 164.0% during the fourth quarter. Sunbelt Securities Inc. now owns 726 shares of the company's stock worth $42,000 after purchasing an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company's stock.

Brookfield Stock Up 1.1%

Shares of BN stock traded up $0.69 during mid-day trading on Wednesday, reaching $62.67. 2,015,908 shares of the company were exchanged, compared to its average volume of 2,444,520. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.30. The business's 50 day simple moving average is $58.00 and its 200 day simple moving average is $56.24. The company has a market capitalization of $103.28 billion, a P/E ratio of 223.82 and a beta of 1.66. Brookfield Corporation has a fifty-two week low of $42.21 and a fifty-two week high of $63.07.

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

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, June 13th. Brookfield's dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BN. Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. Scotiabank lowered their price objective on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. reduced their target price on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. TD Securities lowered their price target on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Royal Bank Of Canada assumed coverage on shares of Brookfield in a research note on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $66.13.

Read Our Latest Stock Analysis on BN

About Brookfield

(Free Report)

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.

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Institutional Ownership by Quarter for Brookfield (NYSE:BN)

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