Brookfield Co. (NYSE:BN) is Cardinal Capital Management Inc.’s 6th Largest Position

by · The Cerbat Gem

Cardinal Capital Management Inc. trimmed its stake in shares of Brookfield Co. (NYSE:BN – Free Report) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,322,064 shares of the company’s stock after selling 30,030 shares during the period. Brookfield accounts for 5.1% of Cardinal Capital Management Inc.’s portfolio, making the stock its 6th largest holding. Cardinal Capital Management Inc. owned approximately 0.14% of Brookfield worth $123,477,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in BN. Fortis Group Advisors LLC lifted its position in Brookfield by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Kings Path Partners LLC purchased a new position in Brookfield in the second quarter worth about $31,000. Family Firm Inc. purchased a new stake in Brookfield during the second quarter valued at approximately $36,000. Finally, Salem Investment Counselors Inc. purchased a new stake in Brookfield during the 1st quarter valued at $42,000. 61.60% of the stock is owned by institutional investors.

Brookfield Trading Up 1.0 %

Shares of NYSE BN opened at $53.56 on Friday. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $54.43. The business has a fifty day moving average price of $49.28 and a 200 day moving average price of $45.06. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The stock has a market capitalization of $88.11 billion, a P/E ratio of 92.35 and a beta of 1.54.

Brookfield (NYSE:BN – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The business’s quarterly revenue was down 2.6% on a year-over-year basis. Equities research analysts expect that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Thursday, September 12th. Brookfield’s dividend payout ratio is presently 55.17%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. BMO Capital Markets boosted their price objective on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. TD Securities increased their target price on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Scotiabank boosted their target price on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada reduced their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $51.59.

View Our Latest Stock Analysis on BN

About Brookfield

(Free Report)

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.

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