Brookfield Business Corp $BBUC Stock: TD Waterhouse Canada Inc. Cuts Position

TD Waterhouse Canada Inc. decreased its stake in shares of Brookfield Business Corp (NYSE:BBUC) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 744,361 shares of the company’s stock after selling 27,257 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Brookfield Business were worth $18,387,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp purchased a new position in Brookfield Business in the second quarter worth approximately $29,617,000. The Manufacturers Life Insurance Company acquired a new position in Brookfield Business during the 2nd quarter worth approximately $2,283,000. Tidal Investments LLC acquired a new position in Brookfield Business during the 2nd quarter worth approximately $529,000. Citadel Advisors LLC purchased a new stake in shares of Brookfield Business in the 2nd quarter valued at approximately $1,140,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Brookfield Business by 78.5% in the 2nd 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 during the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Stock Performance

Shares of BBUC stock opened at $26.56 on Friday. The stock’s 50-day moving average is $26.95 and its two-hundred day moving average is $30.46. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of -68.09 and a beta of 1.33. Brookfield Business Corp has a 1 year low of $24.80 and a 1 year high of $38.25. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.22 and a current ratio of 1.44.

Brookfield Business (NYSE:BBUC) last posted its earnings results on Friday, July 31st. The company reported $0.18 EPS for the quarter. Brookfield Business had a return on equity of 2.05% and a net margin of 1.13%. The business had revenue of $6.50 billion for the quarter. Analysts predict that Brookfield Business Corp will post 5.31 earnings per share for the current year.

Brookfield Business Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, August 31st. Brookfield Business’s dividend payout ratio (DPR) is currently -64.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BBUC shares. Royal Bank Of Canada reduced their price objective on shares of Brookfield Business from $40.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday. Scotiabank set a $40.50 target price on shares of Brookfield Business in a research note on Friday, July 24th. RBC Dominion Securities lowered their target price on shares of Brookfield Business from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday. TD Cowen dropped their target price on Brookfield Business from $32.00 to $29.00 and set a “hold” rating on the stock in a report on Monday, October 12th. Finally, Weiss Ratings upgraded Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.83.

Brookfield Business Company Profile

Brookfield Business Corporation (NYSE: BBUC) is a publicly traded company that provides investors with an alternative way to participate in the operations of Brookfield Business Partners L.P. The corporation’s shares are designed to be economically equivalent to units of Brookfield Business Partners and are supported by the company’s portfolio of operating businesses.

Brookfield Business Partners and its affiliated businesses focus on owning and operating companies in sectors including business services, infrastructure services, healthcare and industrial operations.