Brookfield Business (NYSE:BBUC) Sets New 12-Month Low – Here’s What Happened

Shares of Brookfield Business Corp (NYSE:BBUC) reached a new 52-week low during trading on Monday . The stock traded as low as $25.14 and last traded at $25.9250, with a volume of 610138 shares. The stock had previously closed at $25.70.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BBUC. Wall Street Zen lowered shares of Brookfield Business from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Scotiabank set a $40.50 price objective on Brookfield Business in a research report on Friday, July 24th. Weiss Ratings reissued a “sell (d)” rating on shares of Brookfield Business in a research report on Wednesday, August 5th. Finally, TD Cowen cut their price objective on Brookfield Business from $34.00 to $32.00 and set a “hold” rating for the company in a report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Brookfield Business has a consensus rating of “Hold” and an average price target of $39.20.

Brookfield Business Stock Performance

The stock has a market cap of $5.42 billion, a P/E ratio of -67.14 and a beta of 1.25. The stock has a fifty day simple moving average of $28.73 and a 200-day simple moving average of $31.18. 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 released its quarterly earnings data on Friday, July 31st. The company reported $0.18 earnings per share for the quarter. The company 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, equities analysts expect that Brookfield Business Corp will post 5.31 earnings per share for the current year.

Brookfield Business Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.25 annualized dividend and a yield of 1.0%. Brookfield Business’s dividend payout ratio is currently -64.10%.

Institutional Investors Weigh In On Brookfield Business

Several hedge funds and other institutional investors have recently made changes to their positions in BBUC. Handelsbanken Fonder AB bought a new position in Brookfield Business during the 4th quarter worth $323,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Brookfield Business by 78.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 16,012 shares of the company’s stock worth $478,000 after buying an additional 7,044 shares in the last quarter. Tidal Investments LLC acquired a new stake in Brookfield Business in the second quarter worth $529,000. Citadel Advisors LLC bought a new stake in Brookfield Business in the 2nd quarter valued at about $1,140,000. Finally, Hsbc Holdings PLC boosted its holdings in Brookfield Business by 73.7% in the fourth quarter. Hsbc Holdings PLC now owns 33,914 shares of the company’s stock worth $1,211,000 after acquiring an additional 14,393 shares in the last quarter. 85.04% of the stock is owned by institutional investors.

About Brookfield Business

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.