Citadel Advisors LLC Makes New $1.14 Million Investment in Brookfield Business Corp $BBUC

Key Points

• Citadel Advisors initiated a $1.14 million position in Brookfield Business during the second quarter, while institutional investors collectively own 85.04% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $39.20 target price; recent coverage included downgrades and price-target reductions.
• BBUC opened at $26.34, near its 52-week low, after reporting quarterly EPS of $0.18 on $6.50 billion in revenue. The company also declared a quarterly dividend of $0.0625, equal to a 0.9% annualized yield.

Citadel Advisors LLC bought a new stake in Brookfield Business Corp (NYSE:BBUC - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38,196 shares of the company's stock, valued at approximately $1,140,000.

Several other large investors also recently modified their holdings of BBUC. Los Angeles Capital Management LLC acquired a new stake in shares of Brookfield Business during the fourth quarter worth about $1,655,000. TD Waterhouse Canada Inc. acquired a new position in shares of Brookfield Business in the 2nd quarter valued at approximately $23,247,000. Cardinal Point Capital Management ULC grew its position in shares of Brookfield Business by 4.6% in the 4th quarter. Cardinal Point Capital Management ULC now owns 119,133 shares of the company's stock valued at $4,263,000 after purchasing an additional 5,255 shares during the period. Qube Research & Technologies Ltd bought a new stake in Brookfield Business during the 3rd quarter worth approximately $907,000. Finally, AQR Capital Management LLC increased its stake in Brookfield Business by 38.5% during the 4th quarter. AQR Capital Management LLC now owns 23,174 shares of the company's stock worth $831,000 after purchasing an additional 6,439 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on BBUC. Wall Street Zen downgraded shares of Brookfield Business from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Weiss Ratings reissued a "sell (d)" rating on shares of Brookfield Business in a research report on Wednesday, August 5th. Scotiabank set a $40.50 price objective on shares of Brookfield Business in a report on Friday, July 24th. Finally, TD Cowen dropped their price objective on shares of Brookfield Business from $34.00 to $32.00 and set a "hold" rating on the stock in a report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating, two 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 a consensus rating of "Hold" and a consensus target price of $39.20.

Brookfield Business Stock Down 1.0%

NYSE:BBUC opened at $26.34 on Friday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.22 and a current ratio of 1.44. The company has a market cap of $5.45 billion, a PE ratio of -67.55 and a beta of 1.25. Brookfield Business Corp has a 52-week low of $26.00 and a 52-week high of $38.25. The stock has a 50-day simple moving average of $29.47 and a 200 day simple moving average of $31.68.

Brookfield Business (NYSE:BBUC - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.18 earnings per share (EPS) for the quarter. The business had revenue of $6.50 billion for the quarter. Brookfield Business had a return on equity of 2.05% and a net margin of 1.13%. On average, sell-side analysts expect that Brookfield Business Corp will post 5.31 EPS for the current fiscal year.

Brookfield Business Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.0625 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. Brookfield Business's dividend payout ratio (DPR) is -64.10%.

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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