Mcdonald Capital Investors Inc. CA Sells 281,342 Shares of Brookfield Corporation $BN

Key Points

• Mcdonald Capital Investors reduced its Brookfield position by 281,342 shares, or 11.5%, in the third quarter, but still held 2.16 million shares valued at approximately $78.6 million.
• Brookfield shares opened at $38.03, near the lower end of their 52-week range, while institutional investors and hedge funds collectively owned 61.6% of the stock.
• Analysts maintain a consensus “Moderate Buy” rating with a $57.40 target price. Brookfield recently exceeded quarterly EPS expectations and pays a $0.07 quarterly dividend, yielding about 0.7%.

Mcdonald Capital Investors Inc. CA lowered its position in Brookfield Corporation (NYSE:BN - Free Report) by 11.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,156,407 shares of the company's stock after selling 281,342 shares during the quarter. Brookfield accounts for about 6.5% of Mcdonald Capital Investors Inc. CA's holdings, making the stock its 5th largest position. Mcdonald Capital Investors Inc. CA owned 0.09% of Brookfield worth $78,623,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Fortitude Family Office LLC bought a new stake in Brookfield in the third quarter valued at about $26,000. Silicon Valley Capital Partners bought a new position in Brookfield during the second quarter worth about $32,000. Kings Path Partners LLC acquired a new stake in Brookfield during the third quarter valued at approximately $35,000. Virginia Estate & Retirement Planning Advisors Inc. acquired a new stake in Brookfield during the third quarter valued at approximately $46,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Brookfield by 203.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,229 shares of the company's stock valued at $50,000 after purchasing an additional 824 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Performance

Shares of Brookfield stock opened at $38.03 on Wednesday. The firm has a market cap of $93.25 billion, a PE ratio of 69.14 and a beta of 1.56. The business's 50 day simple moving average is $38.38 and its 200 day simple moving average is $42.71. 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 announced 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 business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. As a group, equities research analysts predict that Brookfield Corporation will post 2.88 EPS for the current year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 14th. Brookfield's payout ratio is presently 50.91%.

Analyst Upgrades and Downgrades

BN has been the topic of several recent analyst reports. Zacks Research lowered Brookfield from a "hold" rating to a "strong sell" rating in a research note on Monday, October 19th. TD increased their price objective on Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. BMO Capital Markets raised Brookfield to a "strong-buy" rating in a report on Monday, July 27th. Scotiabank reissued an "outperform" rating and set a $54.00 price objective (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Brookfield in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Brookfield presently has a consensus rating of "Moderate Buy" and a consensus 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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