Baskin Financial Services Inc. Sells 23,474 Shares of Brookfield Corporation $BN

Baskin Financial Services Inc. trimmed its stake in Brookfield Corporation (NYSE:BN) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,262,547 shares of the company’s stock after selling 23,474 shares during the period. Brookfield comprises 3.7% of Baskin Financial Services Inc.’s holdings, making the stock its 10th biggest holding. Baskin Financial Services Inc. owned about 0.05% of Brookfield worth $46,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Cardinal Capital Management Inc. boosted its holdings in shares of Brookfield by 2.5% in the second quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company’s stock valued at $138,287,000 after purchasing an additional 80,738 shares during the period. Headlands Technologies LLC increased its holdings in Brookfield by 181.4% during the 2nd quarter. Headlands Technologies LLC now owns 91,785 shares of the company’s stock worth $3,909,000 after purchasing an additional 59,166 shares during the period. Concurrent Investment Advisors LLC increased its holdings in Brookfield by 520.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 47,684 shares of the company’s stock worth $2,031,000 after purchasing an additional 39,994 shares during the period. TD Waterhouse Canada Inc. increased its holdings in Brookfield by 1.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company’s stock worth $595,676,000 after purchasing an additional 248,479 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Brookfield during the 2nd quarter valued at $5,498,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Down 0.6%

Shares of BN traded down $0.22 during trading hours on Monday, hitting $36.40. The company had a trading volume of 1,523,458 shares, compared to its average volume of 5,094,383. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $89.25 billion, a PE ratio of 66.21 and a beta of 1.56. Brookfield Corporation has a one year low of $35.61 and a one year high of $49.56. The company’s fifty day moving average price is $39.22 and its two-hundred day moving average price is $42.41.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. As a group, equities analysts forecast that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, September 14th. Brookfield’s dividend payout ratio (DPR) is currently 50.91%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Scotia upped their target price on Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Friday, August 14th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. Morgan Stanley set a $59.00 price objective on Brookfield and gave the company an “overweight” rating in a report on Tuesday, July 21st. BMO Capital Markets upgraded Brookfield to a “strong-buy” rating in a report on Monday, July 27th. Finally, TD upped their price objective on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus target price of $57.40.

Brookfield Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.