Los Angeles Capital Management LLC Acquires Shares of 46,372 Brookfield Business Corp $BBUC

Los Angeles Capital Management LLC bought a new position in shares of Brookfield Business Corp (NYSE:BBUC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 46,372 shares of the company’s stock, valued at approximately $1,655,000.

Several other institutional investors and hedge funds have also recently modified their holdings of BBUC. Signaturefd LLC boosted its holdings in shares of Brookfield Business by 29.4% in the fourth quarter. Signaturefd LLC now owns 3,018 shares of the company’s stock valued at $108,000 after purchasing an additional 685 shares during the period. Bank of America Corp DE increased its holdings in Brookfield Business by 6.8% during the 3rd quarter. Bank of America Corp DE now owns 52,377 shares of the company’s stock worth $1,756,000 after purchasing an additional 3,348 shares during the period. TD Asset Management Inc raised its position in Brookfield Business by 12.8% during the 4th quarter. TD Asset Management Inc now owns 43,597 shares of the company’s stock valued at $1,560,000 after purchasing an additional 4,952 shares in the last quarter. SG Americas Securities LLC bought a new stake in Brookfield Business during the 4th quarter valued at $178,000. Finally, Cardinal Point Capital Management ULC lifted its holdings 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 worth $4,263,000 after buying an additional 5,255 shares during the period. Institutional investors own 85.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BBUC shares. Royal Bank Of Canada cut their price target on Brookfield Business from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Zacks Research raised shares of Brookfield Business from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. TD Cowen initiated coverage on shares of Brookfield Business in a report on Tuesday. They issued a “hold” rating and a $34.00 price target for the company. Canadian Imperial Bank of Commerce set a $41.50 price objective on shares of Brookfield Business in a research note on Monday, May 11th. Finally, National Bank Financial reduced their price objective on shares of Brookfield Business from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.90.

Brookfield Business Stock Performance

Shares of Brookfield Business stock opened at $32.02 on Thursday. The company has a market capitalization of $6.63 billion, a PE ratio of -71.16 and a beta of 1.24. The company has a 50-day simple moving average of $33.35 and a two-hundred day simple moving average of $34.30. Brookfield Business Corp has a one year low of $27.76 and a one year high of $38.25. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.19 and a current ratio of 1.43.

Brookfield Business (NYSE:BBUC) last released its quarterly earnings results on Friday, May 8th. The company reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $997.69. Brookfield Business had a net margin of 1.28% and a return on equity of 2.33%. The business had revenue of $6.44 billion for the quarter. Research analysts expect that Brookfield Business Corp will post 5.54 EPS for the current fiscal year.

Brookfield Business Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, May 29th. Brookfield Business’s dividend payout ratio (DPR) is -55.56%.

Brookfield Business Company Profile

Brookfield Business (NYSE: BBUC) is a publicly traded operating company affiliated with the Brookfield group that focuses on owning and managing a portfolio of industrial and business services companies. The company’s model centers on acquiring established businesses and applying active operational oversight, capital investment and strategic management to improve performance and support long?term growth.

Brookfield Business’s activities span a range of sectors within the industrial and services landscape, including manufacturing, industrial services, specialty distribution and business?to?business service providers.