TD Waterhouse Canada Inc. Takes $23.25 Million Position in Brookfield Business Corp $BBUC

TD Waterhouse Canada Inc. acquired a new position in Brookfield Business Corp (NYSE:BBUC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 771,618 shares of the company’s stock, valued at approximately $23,247,000.

Other hedge funds have also recently made changes to their positions in the company. Jump Financial LLC purchased a new stake in Brookfield Business in the fourth quarter valued at approximately $240,000. Franklin Resources Inc. boosted its position in shares of Brookfield Business by 7.1% during the fourth quarter. Franklin Resources Inc. now owns 7,302 shares of the company’s stock worth $262,000 after buying an additional 482 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Brookfield Business in the fourth quarter valued at $280,000. Susquehanna Advisors Group Inc. purchased a new stake in shares of Brookfield Business in the 4th quarter valued at $298,000. Finally, Handelsbanken Fonder AB acquired a new position in Brookfield Business during the 4th quarter worth about $323,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BBUC. Scotiabank set a $40.50 target price on Brookfield Business in a research report on Friday, July 24th. TD Cowen dropped their price objective on shares of Brookfield Business from $34.00 to $32.00 and set a “hold” rating for the company in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce set a $41.50 target price on shares of Brookfield Business in a research note on Monday, May 11th. Wall Street Zen lowered shares of Brookfield Business from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Brookfield Business in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $39.20.

Brookfield Business Stock Performance

Shares of BBUC opened at $27.99 on Friday. Brookfield Business Corp has a 1 year low of $26.93 and a 1 year high of $38.25. The stock has a market capitalization of $5.79 billion, a PE ratio of -71.77 and a beta of 1.25. The company has a debt-to-equity ratio of 2.92, a quick ratio of 1.22 and a current ratio of 1.44. The stock has a 50-day simple moving average of $29.71 and a 200-day simple moving average of $31.94.

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

Brookfield Business Dividend Announcement

The company 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. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, August 31st. Brookfield Business’s dividend payout ratio (DPR) is presently -64.10%.

Brookfield Business 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.