Flagship Harbor Advisors LLC Lowers Position in Brookfield Corporation (NYSE:BN)

Flagship Harbor Advisors LLC lowered its stake in shares of Brookfield Corporation (NYSE:BN) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,325 shares of the company’s stock after selling 210 shares during the period. Flagship Harbor Advisors LLC’s holdings in Brookfield were worth $489,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Brookfield by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company’s stock valued at $3,443,129,000 after purchasing an additional 974,533 shares during the period. Capital World Investors grew its position in shares of Brookfield by 3.1% during the fourth quarter. Capital World Investors now owns 59,020,303 shares of the company’s stock worth $3,390,786,000 after buying an additional 1,782,034 shares in the last quarter. FIL Ltd increased its stake in shares of Brookfield by 8.8% in the fourth quarter. FIL Ltd now owns 20,354,516 shares of the company’s stock worth $1,169,912,000 after buying an additional 1,640,903 shares during the last quarter. Norges Bank acquired a new stake in shares of Brookfield in the 4th quarter valued at about $973,591,000. Finally, The Manufacturers Life Insurance Company grew its stake in Brookfield by 1.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,866,447 shares of the company’s stock worth $682,497,000 after purchasing an additional 129,735 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of BN opened at $60.20 on Thursday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.30. The firm has a market cap of $99.21 billion, a PE ratio of 215.00 and a beta of 1.66. Brookfield Corporation has a twelve month low of $40.61 and a twelve month high of $62.78. The firm’s 50 day moving average price is $56.79 and its 200 day moving average price is $56.16.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. As a group, research analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Friday, June 13th. Brookfield’s dividend payout ratio is 128.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BN. Royal Bank Of Canada started coverage on Brookfield in a research report on Wednesday, June 18th. They issued an “outperform” rating and a $81.00 target price for the company. Scotiabank dropped their price objective on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 7th. JPMorgan Chase & Co. cut their price target on shares of Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. TD Securities lowered their price objective on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, CIBC cut their price objective on Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.13.

Brookfield Profile

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.