Marathon Asset Management Ltd Sells 83,126 Shares of Brookfield Corporation $BN

Marathon Asset Management Ltd lowered its stake in shares of Brookfield Corporation (NYSE:BN) by 5.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,390,733 shares of the company’s stock after selling 83,126 shares during the period. Brookfield comprises about 3.5% of Marathon Asset Management Ltd’s investment portfolio, making the stock its 5th biggest position. Marathon Asset Management Ltd’s holdings in Brookfield were worth $95,444,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Pershing Square Capital Management L.P. raised its position in Brookfield by 17.5% during the first quarter. Pershing Square Capital Management L.P. now owns 41,004,657 shares of the company’s stock valued at $2,149,054,000 after acquiring an additional 6,111,593 shares in the last quarter. Akre Capital Management LLC boosted its position in Brookfield by 0.7% in the 2nd quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company’s stock worth $1,188,713,000 after purchasing an additional 125,269 shares in the last quarter. Norges Bank acquired a new stake in shares of Brookfield during the 2nd quarter worth approximately $1,040,160,000. Mackenzie Financial Corp increased its holdings in shares of Brookfield by 1.6% during the 2nd quarter. Mackenzie Financial Corp now owns 16,319,256 shares of the company’s stock valued at $1,010,616,000 after purchasing an additional 249,913 shares in the last quarter. Finally, Bank of Nova Scotia lifted its stake in shares of Brookfield by 13.3% in the 2nd quarter. Bank of Nova Scotia now owns 13,263,185 shares of the company’s stock valued at $820,569,000 after purchasing an additional 1,556,042 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Trading Up 0.4%

Shares of Brookfield stock opened at $46.79 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a twelve month low of $29.07 and a twelve month high of $49.47. The firm has a market capitalization of $115.84 billion, a PE ratio of 129.96 and a beta of 1.57. The firm’s 50-day moving average price is $45.74 and its 200 day moving average price is $44.45.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, November 13th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Brookfield had a return on equity of 3.92% and a net margin of 1.34%. On average, sell-side analysts predict that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, December 16th. Brookfield’s dividend payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BN. Morgan Stanley set a $54.00 price target on shares of Brookfield and gave the company an “overweight” rating in a research report on Monday, October 13th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Zacks Research cut Brookfield from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 11th. The Goldman Sachs Group assumed coverage on Brookfield in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $52.00 price target for the company. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $49.00 price target (up previously from $46.00) on shares of Brookfield in a report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.87.

Brookfield Company Profile

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.