Brookfield Business Corp (NYSE:BBUC) Sees Large Increase in Short Interest

Brookfield Business Corp (NYSE:BBUC) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totaling 2,139,332 shares, an increase of 160.1% from the June 15th total of 822,471 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 1,135,344 shares, the short-interest ratio is presently 1.9 days.

Hedge Funds Weigh In On Brookfield Business

Several hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. grew its holdings in Brookfield Business by 7.1% in the fourth quarter. Franklin Resources Inc. now owns 7,302 shares of the company’s stock valued at $262,000 after purchasing an additional 482 shares during the last quarter. Signaturefd LLC raised its stake in shares of Brookfield Business by 29.4% during the 4th quarter. Signaturefd LLC now owns 3,018 shares of the company’s stock worth $108,000 after buying an additional 685 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Brookfield Business by 7.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,587 shares of the company’s stock worth $488,000 after buying an additional 993 shares during the last quarter. Mariner LLC boosted its position in shares of Brookfield Business by 14.3% in the 4th quarter. Mariner LLC now owns 12,099 shares of the company’s stock worth $434,000 after buying an additional 1,515 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Brookfield Business by 6.8% in the 3rd quarter. Bank of America Corp DE now owns 52,377 shares of the company’s stock worth $1,756,000 after buying an additional 3,348 shares in the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BBUC shares. Canadian Imperial Bank of Commerce set a $41.50 price target on shares of Brookfield Business in a report on Monday, May 11th. Weiss Ratings lowered Brookfield Business from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 8th. Wall Street Zen cut Brookfield Business from a “buy” rating to a “hold” rating in a report on Tuesday, June 16th. TD Cowen started coverage on Brookfield Business in a research note on Tuesday, June 9th. They issued a “hold” rating and a $34.00 price target on the stock. Finally, Zacks Research raised Brookfield Business from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $39.90.

Brookfield Business Stock Up 2.5%

Shares of NYSE BBUC opened at $31.22 on Thursday. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of -69.38 and a beta of 1.25. Brookfield Business has a 52 week low of $28.29 and a 52 week high of $38.25. The firm has a 50-day moving average price of $32.10 and a 200 day moving average price of $33.58. The company has a quick ratio of 1.19, a current ratio of 1.43 and a debt-to-equity ratio of 2.78.

Brookfield Business (NYSE:BBUC) last issued its earnings results on Friday, May 8th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($1.12). Brookfield Business had a return on equity of 2.33% and a net margin of 1.28%.The company had revenue of $6.44 billion for the quarter. Equities research analysts anticipate that Brookfield Business will post 5.54 EPS for the current fiscal year.

Brookfield Business Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were issued a $0.0625 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. Brookfield Business’s dividend payout ratio is currently -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.