Scharf Investments LLC Has $184.73 Million Holdings in Brookfield Corporation (NYSE:BN)

Scharf Investments LLC trimmed its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 14.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,524,927 shares of the company's stock after selling 589,938 shares during the period. Brookfield comprises 5.6% of Scharf Investments LLC's investment portfolio, making the stock its 4th largest position. Scharf Investments LLC owned 0.21% of Brookfield worth $184,732,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp purchased a new position in shares of Brookfield in the fourth quarter valued at about $341,000. Sanctuary Advisors LLC raised its stake in shares of Brookfield by 8.8% during the fourth quarter. Sanctuary Advisors LLC now owns 43,674 shares of the company's stock valued at $2,715,000 after acquiring an additional 3,514 shares during the last quarter. D.A. Davidson & CO. bought a new position in shares of Brookfield during the fourth quarter valued at about $694,000. New York State Common Retirement Fund bought a new position in shares of Brookfield during the fourth quarter valued at about $912,000. Finally, Global Retirement Partners LLC raised its position in Brookfield by 18.6% during the 4th quarter. Global Retirement Partners LLC now owns 3,801 shares of the company's stock valued at $218,000 after purchasing an additional 597 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Up 1.4%

Shares of BN traded up $0.86 on Thursday, hitting $61.06. 1,764,066 shares of the stock traded hands, compared to its average volume of 2,477,830. Brookfield Corporation has a one year low of $40.75 and a one year high of $62.78. The business has a 50 day simple moving average of $57.02 and a 200 day simple moving average of $56.17. The company has a market capitalization of $100.63 billion, a PE ratio of 218.08 and a beta of 1.66. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.30.

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

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Friday, June 13th. Brookfield's payout ratio is 128.57%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BN shares. Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Morgan Stanley restated an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. JPMorgan Chase & Co. decreased their price target on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Scotiabank decreased their target price on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a research report on Monday, April 7th. Finally, Royal Bank Of Canada initiated coverage on Brookfield in a report on Wednesday, June 18th. They issued an "outperform" rating and a $81.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Brookfield currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.13.

About Brookfield

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.