Private Management Group Inc. Sells 29,055 Shares of Brookfield Business Corp $BBUC

Private Management Group Inc. cut its position in shares of Brookfield Business Corp (NYSE:BBUC) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,026,830 shares of the company’s stock after selling 29,055 shares during the quarter. Brookfield Business comprises 1.1% of Private Management Group Inc.’s investment portfolio, making the stock its 25th biggest holding. Private Management Group Inc.’s holdings in Brookfield Business were worth $36,843,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BBUC. Signaturefd LLC boosted its position in shares of Brookfield Business by 29.4% during 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 in the last quarter. SG Americas Securities LLC purchased a new position in Brookfield Business during the fourth quarter valued at $178,000. Franklin Resources Inc. raised its stake in Brookfield Business by 7.1% during the fourth 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. Handelsbanken Fonder AB purchased a new position in Brookfield Business during the fourth quarter valued at $323,000. Finally, Strs Ohio purchased a new position in Brookfield Business during the fourth quarter valued at $431,000. 85.04% of the stock is currently owned by institutional investors.

Brookfield Business Stock Down 1.5%

BBUC stock opened at $31.57 on Friday. Brookfield Business Corp has a 1-year low of $27.76 and a 1-year high of $38.25. The business has a fifty day moving average price of $33.35 and a 200-day moving average price of $34.30. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.43 and a quick ratio of 1.19. The stock has a market capitalization of $6.54 billion, a P/E ratio of -70.16 and a beta of 1.24.

Brookfield Business (NYSE:BBUC) last posted its quarterly earnings results on Friday, May 8th. The company reported $999.00 earnings per share for the quarter, topping the consensus estimate of $1.31 by $997.69. Brookfield Business had a return on equity of 2.33% and a net margin of 1.28%.The firm had revenue of $6.44 billion during the quarter. Equities analysts forecast that Brookfield Business Corp will post 5.54 earnings per share for the current fiscal year.

Brookfield Business Dividend Announcement

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

Analysts Set New Price Targets

BBUC has been the subject of a number of recent research reports. Wall Street Zen upgraded Brookfield Business from a “hold” rating to a “buy” rating in a research note on Monday. National Bank Financial lowered their price objective on Brookfield Business from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Scotiabank reiterated an “outperform” rating on shares of Brookfield Business in a research note on Monday, May 11th. TD Cowen initiated coverage on Brookfield Business in a research note on Tuesday. They set a “hold” rating and a $34.00 price objective for the company. Finally, Canadian Imperial Bank of Commerce set a $41.50 price objective on Brookfield Business in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $39.90.

About Brookfield Business

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.