992,179 Shares of Brookfield Business Corp $BBUC Purchased by State Street Corp

Key Points

• State Street acquired 992,179 Brookfield Business shares worth approximately $29.6 million, taking a 0.48% stake. Institutional investors and hedge funds collectively own 85.04% of BBUC.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $39.20 price target. Recent actions included TD Cowen lowering its target to $32 and Wall Street Zen downgrading the stock to “Hold.”
• BBUC opened at $25.04, near its 12-month low of $24.84, while reporting quarterly revenue of $6.50 billion and earnings of $0.18 per share. The company also declared a quarterly dividend of $0.0625 per share, equivalent to a 1.0% annualized yield.

State Street Corp acquired a new stake in Brookfield Business Corp (NYSE:BBUC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 992,179 shares of the company's stock, valued at approximately $29,617,000. State Street Corp owned about 0.48% of Brookfield Business as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Citadel Advisors LLC acquired a new position in Brookfield Business during the 2nd quarter valued at approximately $1,140,000. Los Angeles Capital Management LLC purchased a new position in shares of Brookfield Business in the fourth quarter worth $1,655,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Brookfield Business during the second quarter worth $2,283,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Brookfield Business during the second quarter worth $23,247,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Brookfield Business by 73.7% during the fourth quarter. Hsbc Holdings PLC now owns 33,914 shares of the company's stock valued at $1,211,000 after buying an additional 14,393 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on BBUC. Weiss Ratings reissued a "sell (d)" rating on shares of Brookfield Business in a research report on Wednesday, August 5th. TD Cowen lowered their price target on Brookfield Business from $34.00 to $32.00 and set a "hold" rating for the company in a research report on Tuesday, August 4th. Scotiabank set a $40.50 price target on Brookfield Business in a research note on Friday, July 24th. Finally, Wall Street Zen lowered Brookfield Business from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Brookfield Business currently has a consensus rating of "Hold" and a consensus price target of $39.20.

Brookfield Business Stock Down 1.9%

BBUC stock opened at $25.04 on Friday. The firm's fifty day simple moving average is $28.49 and its 200-day simple moving average is $31.06. The company has a market capitalization of $5.18 billion, a P/E ratio of -64.19 and a beta of 1.25. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.44 and a quick ratio of 1.22. Brookfield Business Corp has a 12 month low of $24.84 and a 12 month high of $38.25.

Brookfield Business (NYSE:BBUC - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $0.18 earnings per share for the quarter. Brookfield Business had a net margin of 1.13% and a return on equity of 2.05%. The firm had revenue of $6.50 billion for the quarter. As a group, equities research analysts forecast that Brookfield Business Corp will post 5.31 earnings per share for the current year.

Brookfield Business Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Business's dividend payout ratio (DPR) is currently -64.10%.

About Brookfield Business

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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