Cooke & Bieler LP Trims Stake in Brookfield Corporation $BN

Cooke & Bieler LP lessened its position in shares of Brookfield Corporation (NYSE:BN) by 33.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,354,323 shares of the company’s stock after selling 1,162,873 shares during the quarter. Brookfield comprises 1.7% of Cooke & Bieler LP’s investment portfolio, making the stock its 16th biggest holding. Cooke & Bieler LP’s holdings in Brookfield were worth $161,459,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new stake in Brookfield in the second quarter valued at approximately $30,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Brookfield in the 2nd quarter valued at $32,000. Ameritas Advisory Services LLC purchased a new stake in Brookfield in the 2nd quarter valued at $33,000. Cary Street Partners Investment Advisory LLC raised its position in Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after purchasing an additional 330 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in Brookfield during the 3rd quarter worth $40,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a research note on Friday, October 3rd. CIBC restated an “outperform” rating and issued a $52.00 price target (up previously from $50.67) on shares of Brookfield in a research report on Friday, November 14th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 29th. Finally, Morgan Stanley set a $54.00 price target on Brookfield and gave the stock an “overweight” rating in a research note on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $53.87.

Brookfield Stock Performance

NYSE BN opened at $47.17 on Monday. The stock has a market capitalization of $116.82 billion, a price-to-earnings ratio of 131.01 and a beta of 1.58. The business’s 50 day moving average is $46.28 and its two-hundred day moving average is $45.36. Brookfield Corporation has a 12-month low of $29.07 and a 12-month high of $49.56. 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 (NYSE:BN) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a return on equity of 3.92% and a net margin of 1.34%.The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Research analysts expect that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

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

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.