Culbertson A N & Co. Inc. Purchases 81,223 Shares of Brookfield Corporation $BN

Key Points

• Culbertson A N & Co. increased its Brookfield position by 38.8% in the third quarter, adding 81,223 shares for a total of 290,719 shares valued at approximately $10.6 million. Institutional investors collectively own 61.6% of Brookfield.
• Analyst sentiment is mixed but leans positive, with Brookfield holding a “Moderate Buy” consensus rating and an average price target of $57.40; individual ratings range from “Strong Buy” to “Strong Sell.”
• Brookfield reported quarterly EPS of $0.66, surpassing the $0.62 consensus estimate, while maintaining a quarterly dividend of $0.07 per share, equivalent to a 0.7% annualized yield.

Culbertson A N & Co. Inc. boosted its position in Brookfield Corporation (NYSE:BN - Free Report) by 38.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 290,719 shares of the company's stock after purchasing an additional 81,223 shares during the quarter. Brookfield comprises about 1.2% of Culbertson A N & Co. Inc.'s portfolio, making the stock its 24th biggest holding. Culbertson A N & Co. Inc.'s holdings in Brookfield were worth $10,600,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Nova Scotia raised its position in shares of Brookfield by 11.4% in the first 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. increased its stake in Brookfield by 1.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company's stock worth $595,676,000 after acquiring an additional 248,479 shares during the period. Cardinal Capital Management Inc. increased its stake in Brookfield by 2.5% during the 2nd quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company's stock worth $138,287,000 after acquiring an additional 80,738 shares during the period. Cannell & Spears LLC increased its stake in Brookfield by 1.6% during the 1st quarter. Cannell & Spears LLC now owns 2,702,625 shares of the company's stock worth $109,278,000 after acquiring an additional 42,859 shares during the period. Finally, Amundi raised its holdings in Brookfield by 14.1% in the 1st quarter. Amundi now owns 2,696,723 shares of the company's stock valued at $109,136,000 after acquiring an additional 333,843 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BN has been the subject of a number of recent analyst reports. 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. Zacks Research downgraded Brookfield from a "hold" rating to a "strong sell" rating in a research note on Monday. TD upped their price objective on shares of Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Finally, Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the stock an "overweight" rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Brookfield currently has an average rating of "Moderate Buy" and an average target price of $57.40.

Brookfield Stock Performance

Brookfield stock opened at $38.25 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The stock has a market cap of $93.78 billion, a PE ratio of 69.54 and a beta of 1.56. Brookfield Corporation has a 12-month low of $35.61 and a 12-month high of $49.56. The business's 50-day moving average price is $38.63 and its two-hundred day moving average price is $42.32.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. As a group, analysts expect that Brookfield Corporation will post 2.88 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, September 14th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 14th. Brookfield's dividend payout ratio (DPR) is currently 50.91%.

About Brookfield

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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