Mcdonald Capital Investors Inc. CA Sells 56,294 Shares of Brookfield Corporation $BN

Key Points

• Mcdonald Capital Investors Inc. CA cut its Brookfield stake by 2.1% in the first quarter, selling 56,294 shares but still holding 2.64 million shares valued at about $106.96 million.
• Brookfield remains widely held by institutions, with institutional ownership at 61.6%, and several firms recently increased their positions in the stock.
• The company recently paid a quarterly dividend of $0.07 per share and has drawn mostly positive analyst sentiment, with an average price target of $56.82 and a “Moderate Buy” rating.

Mcdonald Capital Investors Inc. CA decreased its position in Brookfield Corporation (NYSE:BN - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,642,836 shares of the company's stock after selling 56,294 shares during the quarter. Brookfield accounts for approximately 7.3% of Mcdonald Capital Investors Inc. CA's holdings, making the stock its 4th largest position. Mcdonald Capital Investors Inc. CA owned 0.11% of Brookfield worth $106,956,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Brookfield by 147.5% in the first quarter. AQR Capital Management LLC now owns 18,571 shares of the company's stock worth $963,000 after purchasing an additional 11,069 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Brookfield by 13.5% during the first quarter. NewEdge Advisors LLC now owns 2,488 shares of the company's stock worth $130,000 after purchasing an additional 295 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Brookfield by 32.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company's stock worth $353,000 after buying an additional 1,396 shares during the last quarter. AXA S.A. lifted its position in shares of Brookfield by 42.2% in the 2nd quarter. AXA S.A. now owns 103,531 shares of the company's stock worth $6,403,000 after buying an additional 30,703 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of Brookfield by 29.6% in the 2nd quarter. Squarepoint Ops LLC now owns 25,502 shares of the company's stock valued at $1,577,000 after buying an additional 5,821 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

NYSE BN opened at $43.38 on Tuesday. The company has a 50-day moving average price of $44.74 and a two-hundred day moving average price of $44.56. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56. The stock has a market cap of $106.34 billion, a price-to-earnings ratio of 85.06 and a beta of 1.54. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. Brookfield's dividend payout ratio is 54.90%.

Analysts Set New Price Targets

Several research firms recently weighed in on BN. Royal Bank Of Canada dropped their price objective on shares of Brookfield from $63.00 to $61.00 and set an "outperform" rating on the stock in a research note on Friday, May 15th. Scotiabank restated an "outperform" rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. TD upped their target price on Brookfield from $59.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, May 19th. TD Securities reiterated a "buy" rating and set a $60.00 price target on shares of Brookfield in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Brookfield from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Brookfield has an average rating of "Moderate Buy" and an average price target of $56.82.

About Brookfield

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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