Schwartz Investment Counsel Inc. Has $21.57 Million Stock Position in Brookfield Corporation $BN

Schwartz Investment Counsel Inc. decreased its position in Brookfield Corporation (NYSE:BN) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & 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 quarter.

A number of other large investors also recently added to or reduced their stakes in BN. Hilltop National Bank acquired a new position in Brookfield in the second quarter valued at approximately $30,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Brookfield during the 2nd quarter valued at $32,000. Ameritas Advisory Services LLC acquired a new position in shares of Brookfield in the 2nd quarter valued at $33,000. First Horizon Corp bought a new position in shares of Brookfield in the 3rd quarter worth $40,000. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in Brookfield by 109.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after purchasing an additional 330 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of NYSE BN opened at $47.38 on Monday. The company has a fifty day moving average price of $46.15 and a 200 day moving average price of $45.21. The firm has a market cap of $117.35 billion, a PE ratio of 131.61 and a beta of 1.58. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.56.

Brookfield (NYSE:BN) last issued 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 company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Brookfield had a return on equity of 3.92% and a net margin of 1.34%. Research analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Brookfield’s dividend payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BN. TD Securities boosted their target price on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $58.00 price target (up from $57.00) on shares of Brookfield in a research report on Monday, December 15th. BMO Capital Markets reissued an “outperform” rating and issued a $49.00 price target (up previously from $46.00) on shares of Brookfield in a report on Wednesday, December 17th. Finally, Zacks Research lowered Brookfield from a “hold” rating to a “strong sell” rating in a report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.87.

Brookfield Company 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.