Madison Asset Management LLC Lowers Stake in Brookfield Corporation $BN

Madison Asset Management LLC cut its stake in Brookfield Corporation (NYSE:BN) by 4.1% during the third quarter, HoldingsChannel reports. The firm owned 1,120,935 shares of the company’s stock after selling 48,122 shares during the period. Madison Asset Management LLC’s holdings in Brookfield were worth $76,874,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Brookfield in the 2nd quarter worth about $1,040,160,000. Lone Pine Capital LLC purchased a new stake in shares of Brookfield in the second quarter valued at approximately $347,683,000. Canada Pension Plan Investment Board boosted its holdings in shares of Brookfield by 132.5% in the second quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock valued at $405,065,000 after purchasing an additional 3,727,628 shares during the period. Picton Mahoney Asset Management bought a new position in Brookfield in the second quarter worth approximately $140,555,000. Finally, Geode Capital Management LLC increased its holdings in Brookfield by 19.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,882,122 shares of the company’s stock worth $679,852,000 after purchasing an additional 1,770,378 shares during the period. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of Brookfield stock opened at $47.77 on Wednesday. The company has a market capitalization of $118.32 billion, a PE ratio of 132.69 and a beta of 1.57. The company has a 50-day simple moving average of $46.52 and a two-hundred day simple moving average of $45.55. Brookfield Corporation has a one year low of $29.07 and a one year high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. 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 fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. TD Securities upped their target price on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $52.00 price objective (up from $50.67) on shares of Brookfield in a research note on Friday, November 14th. National Bankshares raised their target price on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Wall Street Zen upgraded shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Brookfield in a research report on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $54.70.

Brookfield 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.