Shares of Brookfield Business Corp (NYSE:BBUC – Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $25.70 and last traded at $25.8850, with a volume of 360520 shares. The stock had previously closed at $26.41.
Analysts Set New Price Targets
BBUC has been the topic of a number of research analyst reports. Scotiabank set a $40.50 price objective on shares of Brookfield Business in a research report on Friday, July 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Brookfield Business in a research report on Wednesday, August 5th. TD Cowen decreased their target price on shares of Brookfield Business from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Finally, Wall Street Zen cut Brookfield Business from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.20.
View Our Latest Research Report on BBUC
Brookfield Business Stock Down 0.3%
Brookfield Business (NYSE:BBUC – Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $6.50 billion for the quarter. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%. As a group, analysts forecast that Brookfield Business Corp will post 5.31 EPS for the current fiscal year.
Brookfield Business Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, August 31st. Brookfield Business’s dividend payout ratio (DPR) is currently -64.10%.
Hedge Funds Weigh In On Brookfield Business
Several institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company bought a new position in shares of Brookfield Business during the 2nd quarter valued at approximately $2,283,000. Tidal Investments LLC bought a new stake in Brookfield Business during the 2nd quarter worth approximately $529,000. Citadel Advisors LLC purchased a new position in Brookfield Business during the second quarter valued at approximately $1,140,000. TD Waterhouse Canada Inc. purchased a new position in Brookfield Business during the second quarter valued at approximately $23,247,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Brookfield Business by 78.5% during the second quarter. Public Employees Retirement System of Ohio now owns 16,012 shares of the company’s stock valued at $478,000 after purchasing an additional 7,044 shares in the last quarter. 85.04% of the stock is currently owned by hedge funds and other institutional investors.
Brookfield Business Company Profile
Brookfield Business Corporation (NYSE: BBUC) is a publicly traded holding company affiliated with Brookfield Asset Management. It owns and operates a diversified portfolio of businesses with a focus on essential services and industries that may benefit from long-term demand and operational improvement.
The company’s principal activities span business services, infrastructure services and industrial operations. Its investments have included healthcare services, residential mortgage insurance, construction and infrastructure-related services, and other industrial and service businesses.
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