Brookfield Business Corp $BBUC Shares Newly Bought by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. bought a new position in shares of Brookfield Business Corp (NYSE:BBUC) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 874,434 shares of the company’s stock, valued at approximately $22,301,000.

Other large investors also recently modified their holdings of the company. Citadel Advisors LLC bought a new stake in shares of Brookfield Business during the second quarter valued at approximately $1,140,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Brookfield Business in the second quarter valued at approximately $2,283,000. TD Waterhouse Canada Inc. bought a new position in Brookfield Business in the 2nd quarter worth approximately $23,247,000. State Street Corp bought a new position in Brookfield Business in the 2nd quarter worth approximately $29,617,000. Finally, Hsbc Holdings PLC raised its position in Brookfield Business by 73.7% in the 4th quarter. Hsbc Holdings PLC now owns 33,914 shares of the company’s stock worth $1,211,000 after purchasing an additional 14,393 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Business Price Performance

Brookfield Business stock opened at $30.15 on Tuesday. 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 Corp has a 1 year low of $24.80 and a 1 year high of $38.25. The company’s 50-day moving average is $26.97 and its two-hundred day moving average is $31.11.

Brookfield Business (NYSE:BBUC) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts expect that Brookfield Business Corp will post 5.31 earnings per share for the current year.

Brookfield Business Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Monday, November 30th will be issued a dividend of $0.0625 per share. The ex-dividend date is Monday, November 30th. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. Brookfield Business’s dividend payout ratio (DPR) is -1,250.00%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BBUC. Scotiabank set a $40.50 price objective on Brookfield Business in a report on Friday, July 24th. RBC Dominion Securities lowered their target price on Brookfield Business from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, October 15th. Royal Bank Of Canada cut Brookfield Business from a “moderate buy” rating to a “hold” rating and set a $34.00 target price for the company. in a research note on Friday. Weiss Ratings upgraded Brookfield Business from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Finally, National Bank Financial cut their price target on Brookfield Business from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.17.

Brookfield Business 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.