The Manufacturers Life Insurance Company Makes New Investment in Brookfield Business Corp $BBUC

The Manufacturers Life Insurance Company bought a new stake in Brookfield Business Corp (NYSE:BBUC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 76,533 shares of the company’s stock, valued at approximately $2,283,000.

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

Wall Street Analyst Weigh In

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

Brookfield Business Stock Down 0.0%

Brookfield Business stock opened at $26.40 on Monday. The stock’s 50 day moving average price is $29.38 and its 200 day moving average price is $31.63. Brookfield Business Corp has a 1-year low of $26.00 and a 1-year high of $38.25. The company has a market cap of $5.46 billion, a PE ratio of -67.69 and a beta of 1.25. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.44 and a quick ratio of 1.22.

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

Brookfield Business Dividend Announcement

The business also recently declared 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 currently -64.10%.

Brookfield Business Profile

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.