Private Management Group Inc. purchased a new stake in Brookfield Business Corp (NYSE:BBUC – Free Report) in the 3rd quarter, Holdings Channel reports. The fund purchased 1,249,436 shares of the company’s stock, valued at approximately $31,873,000.
A number of other institutional investors have also recently modified their holdings of BBUC. State Street Corp acquired a new position in Brookfield Business during the second quarter worth $29,617,000. TD Waterhouse Canada Inc. purchased a new position in Brookfield Business in the second quarter worth $23,247,000. Cardinal Point Capital Management ULC lifted its holdings in Brookfield Business by 0.6% in the third quarter. Cardinal Point Capital Management ULC now owns 357,043 shares of the company’s stock valued at $9,112,000 after acquiring an additional 2,073 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Brookfield Business in the second quarter valued at $2,283,000. Finally, Hsbc Holdings PLC lifted its holdings in Brookfield Business by 73.7% in the fourth quarter. Hsbc Holdings PLC now owns 33,914 shares of the company’s stock valued at $1,211,000 after acquiring an additional 14,393 shares during the period. 85.04% of the stock is currently owned by hedge funds and other institutional investors.
Brookfield Business Price Performance
Shares of NYSE BBUC opened at $30.15 on Tuesday. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of -1,507.35 and a beta of 1.32. Brookfield Business Corp has a 52 week low of $24.80 and a 52 week high of $38.25. The company’s 50-day moving average price is $26.97 and its 200 day moving average price is $31.11. The company has a current ratio of 1.44, a quick ratio of 1.22 and a debt-to-equity ratio of 2.92.
Brookfield Business (NYSE:BBUC – Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($1.16). Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%. As a group, research analysts forecast that Brookfield Business Corp will post 5.31 earnings per share for the current fiscal year.
Brookfield Business Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, November 30th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, November 30th. Brookfield Business’s payout ratio is currently -1,250.00%.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on BBUC shares. National Bank Financial lowered their price target on shares of Brookfield Business from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. Weiss Ratings upgraded shares of Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 25th. Scotiabank set a $40.50 price objective on shares of Brookfield Business in a research note on Friday, July 24th. Royal Bank Of Canada downgraded shares of Brookfield Business from a “moderate buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a report on Friday. Finally, TD Cowen decreased their price objective on shares of Brookfield Business from $32.00 to $29.00 and set a “hold” rating on the stock in a report on Monday, October 12th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.17.
View Our Latest Analysis on Brookfield Business
Brookfield Business Company Profile
Brookfield Business Corporation (NYSE: BBUC) is a publicly traded corporation affiliated with Brookfield Business Partners L.P. Its shares are structured to provide investors with economic exposure to Brookfield Business Partners, a global owner and operator of businesses in the business services, infrastructure services and industrials sectors.
Brookfield Business Partners’ portfolio companies provide a range of products and services, including essential infrastructure and industrial operations, as well as services to businesses and consumers.
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