Brookfield Corporation $BN Stock: Cardinal Capital Management Inc. Raises Holdings

Cardinal Capital Management Inc. boosted its holdings in Brookfield Corporation (NYSE:BN) by 2.3% during the 3rd quarter, Holdings Channel reports. The fund owned 3,321,845 shares of the company’s stock after acquiring an additional 74,218 shares during the quarter. Brookfield comprises 2.8% of Cardinal Capital Management Inc.’s portfolio, making the stock its 14th largest holding. Cardinal Capital Management Inc.’s holdings in Brookfield were worth $121,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank of Nova Scotia grew its stake in shares of Brookfield by 11.4% in the first quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock worth $621,443,000 after purchasing an additional 1,575,668 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Brookfield by 1.8% during the second quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company’s stock valued at $595,676,000 after purchasing an additional 248,479 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Brookfield by 40.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,891,403 shares of the company’s stock valued at $224,571,000 after purchasing an additional 1,399,216 shares during the period. Alberta Investment Management Corp raised its stake in shares of Brookfield by 46.6% during the fourth quarter. Alberta Investment Management Corp now owns 3,464,602 shares of the company’s stock valued at $159,079,000 after purchasing an additional 1,100,534 shares in the last quarter. Finally, Cannell & Spears LLC raised its stake in shares of Brookfield by 1.6% during the first quarter. Cannell & Spears LLC now owns 2,702,625 shares of the company’s stock valued at $109,278,000 after purchasing an additional 42,859 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Down 0.6%

Shares of BN stock opened at $36.58 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. The stock has a market cap of $89.70 billion, a PE ratio of 66.51 and a beta of 1.56. The business’s fifty day moving average is $39.22 and its 200-day moving average is $42.38. Brookfield Corporation has a 1 year low of $35.61 and a 1 year high of $49.56.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. Equities analysts expect that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were given a $0.07 dividend. The ex-dividend date was Monday, September 14th. This represents a $0.28 annualized dividend and a yield of 0.8%. Brookfield’s payout ratio is 50.91%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BN. BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a report on Monday, July 27th. Scotia raised their target price on shares of Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a research note on Friday, August 14th. TD raised their target price on shares of Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Scotiabank restated an “outperform” rating and set a $54.00 price target (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.40.

About Brookfield

Brookfield Corporation (NYSE: BN) is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield’s businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.