1,249,436 Shares of Brookfield Business Corp $BBUC Bought by Private Management Group Inc.

Key Points

• Private Management Group bought 1,249,436 Brookfield Business shares in the third quarter, a stake valued at about $31.9 million and equal to 0.61% of the company.
• Brookfield Business reported quarterly EPS of $0.09, missing analyst estimates of $1.25; analysts currently have a consensus Hold rating and an average price target of $36.17.
• The company announced a quarterly dividend of $0.0625 per share, equivalent to $0.25 annually and a yield of about 0.8%.

Private Management Group Inc. bought a new stake in Brookfield Business Corp (NYSE:BBUC - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,249,436 shares of the company's stock, valued at approximately $31,873,000. Private Management Group Inc. owned 0.61% of Brookfield Business as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BBUC. Parallel Advisors LLC acquired a new position in Brookfield Business during the third quarter worth approximately $26,000. Gold Investment Management Ltd. lifted its stake in Brookfield Business by 3.7% in the third quarter. Gold Investment Management Ltd. now owns 42,950 shares of the company's stock valued at $1,103,000 after buying an additional 1,550 shares during the last quarter. Sterling Capital Management LLC acquired a new stake in shares of Brookfield Business in the third quarter valued at approximately $45,000. Cardinal Point Capital Management ULC boosted its holdings in shares of 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. Finally, Signaturefd LLC acquired a new stake in shares of Brookfield Business in the third quarter valued at approximately $81,000. Hedge funds and other institutional investors own 85.04% of the company's stock.

Wall Street Analyst Weigh In

BBUC has been the topic of a number of research reports. Weiss Ratings upgraded shares of Brookfield Business from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, September 25th. Scotiabank set a $40.50 price target on shares of Brookfield Business in a research report on Friday, July 24th. National Bank Financial decreased their price target on shares of Brookfield Business from $42.00 to $38.00 and set an "outperform" rating for the company in a research note on Wednesday, October 28th. Wall Street Zen cut shares of Brookfield Business from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Finally, RBC Dominion Securities lowered their price objective on shares of Brookfield Business from $40.00 to $34.00 and set an "outperform" rating on the stock in a research report on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $36.17.

Brookfield Business Stock Performance

Shares of BBUC stock opened at $30.15 on Tuesday. The stock has a market capitalization of $6.19 billion, a PE 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 stock's 50-day moving average price is $26.97 and its 200 day moving average price is $31.11. The company has a quick ratio of 1.22, a current ratio of 1.44 and a debt-to-equity ratio of 2.92.

Brookfield Business (NYSE:BBUC - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.25 by ($1.16). Brookfield Business had a return on equity of 2.05% and a net margin of 1.13%. As a group, equities research analysts forecast that Brookfield Business Corp will post 5.31 EPS for the current year.

Brookfield Business Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, November 30th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.25 annualized dividend and a dividend yield of 0.8%. Brookfield Business's payout ratio is presently -1,250.00%.

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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