Schwartz Investment Counsel Inc. Sells 31,950 Shares of Brookfield Corporation $BN

Schwartz Investment Counsel Inc. reduced its holdings in Brookfield Corporation (NYSE:BN) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 314,445 shares of the company’s stock after selling 31,950 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Brookfield were worth $21,565,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Brookfield in the second quarter valued at about $1,040,160,000. Lone Pine Capital LLC acquired a new position in Brookfield during the second quarter valued at approximately $347,683,000. Canada Pension Plan Investment Board grew its stake in 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 in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Brookfield during the 2nd quarter worth approximately $140,555,000. Finally, Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Performance

NYSE BN opened at $47.38 on Monday. The stock has a market cap of $117.35 billion, a PE ratio of 131.61 and a beta of 1.58. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. The firm has a 50-day moving average of $46.15 and a 200-day moving average of $45.21. Brookfield Corporation has a 52-week low of $29.07 and a 52-week high of $49.56.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. On average, sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were paid a dividend of $0.06 per share. The ex-dividend date 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 66.67%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BN. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 29th. Zacks Research cut shares of Brookfield from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 11th. Wall Street Zen downgraded shares of Brookfield from a “hold” rating to a “sell” rating in a research report on Saturday. TD Securities upped their target price on shares of Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 14th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $49.00 price target (up previously from $46.00) on shares of Brookfield in a report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.87.

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.