Beutel Goodman & Co Ltd. Buys New Stake in Brookfield Business Corp $BBUC

Key Points

• Beutel Goodman & Co. bought 874,434 Brookfield Business shares in the third quarter, worth about $22.3 million and representing roughly 0.43% of the company. Institutional investors collectively own 85.04% of the stock.
• Analyst sentiment is mixed: three analysts rate the shares Buy, three Hold, and one Sell; the average rating is Hold with a $36.17 price target. RBC lowered its target to $34 and moved to Hold.
• Brookfield Business reported quarterly EPS of $0.09, missing the $1.25 consensus estimate. It also declared a quarterly dividend of $0.0625 per share, equivalent to a 0.8% annual yield.

Beutel Goodman & Co Ltd. purchased a new stake in Brookfield Business Corp (NYSE:BBUC - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 874,434 shares of the company's stock, valued at approximately $22,301,000. Beutel Goodman & Co Ltd. owned approximately 0.43% of Brookfield Business at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BBUC. Parallel Advisors LLC acquired a new position in Brookfield Business during the third quarter worth $26,000. Sterling Capital Management LLC bought a new position in shares of Brookfield Business during the third quarter valued at $45,000. Signaturefd LLC bought a new position in shares of Brookfield Business during the third quarter valued at $81,000. Bfsg LLC acquired a new stake in shares of Brookfield Business in the 3rd quarter valued at $248,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Brookfield Business in the 3rd quarter valued at $366,000. 85.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Brookfield Business from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, September 25th. Royal Bank Of Canada cut shares of Brookfield Business from a "moderate buy" rating to a "hold" rating and set a $34.00 target price for the company. in a research report on Friday. Wall Street Zen downgraded shares of Brookfield Business from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. RBC Dominion Securities reduced their price target 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. Finally, National Bank Financial reduced 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 report on Wednesday, October 28th. Three 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $36.17.

Brookfield Business Trading Up 1.7%

Shares of BBUC opened at $30.15 on Tuesday. The stock has a fifty day moving average price of $26.97 and a two-hundred day moving average price of $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 Corp has a 52-week low of $24.80 and a 52-week high of $38.25.

Brookfield Business (NYSE:BBUC - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.09 EPS 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 earnings per share for the current year.

Brookfield Business Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Monday, November 30th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, November 30th. Brookfield Business's payout ratio is currently -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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