New South Capital Management Inc. Has $50.88 Million Holdings in Brookfield Corporation (NYSE:BN)

New South Capital Management Inc. lowered its position in Brookfield Corporation (NYSE:BN - Free Report) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 970,810 shares of the company's stock after selling 74,521 shares during the quarter. Brookfield makes up about 2.5% of New South Capital Management Inc.'s investment portfolio, making the stock its 14th largest holding. New South Capital Management Inc. owned 0.06% of Brookfield worth $50,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BN. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Brookfield during the first quarter worth $26,000. ST Germain D J Co. Inc. acquired a new stake in shares of Brookfield during the 1st quarter worth about $28,000. CoreCap Advisors LLC bought a new stake in shares of Brookfield during the fourth quarter worth approximately $29,000. Golden State Wealth Management LLC increased its stake in shares of Brookfield by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock worth $31,000 after purchasing an additional 296 shares during the period. Finally, Sunbelt Securities Inc. increased 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 during the period. Institutional investors own 61.60% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Scotiabank reduced their price target on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a research note on Monday, April 7th. Royal Bank Of Canada assumed coverage on shares of Brookfield in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $81.00 target price for the company. TD Securities decreased their price target on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Wall Street Zen raised shares of Brookfield from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $66.13.

Brookfield Price Performance

BN traded up $1.72 on Friday, hitting $64.35. 1,725,633 shares of the stock were exchanged, compared to its average volume of 2,447,751. The firm has a market capitalization of $106.05 billion, a price-to-earnings ratio of 229.82 and a beta of 1.66. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.18. Brookfield Corporation has a 12 month low of $42.21 and a 12 month high of $64.30. The business has a 50-day moving average of $58.23 and a two-hundred day moving average of $56.28.

Brookfield (NYSE:BN - Get Free Report) last issued its 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. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. Sell-side analysts forecast that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, June 13th. Brookfield's payout ratio is presently 128.57%.

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.