Citadel Advisors LLC Invests $1.14 Million in Brookfield Business Corp $BBUC

Citadel Advisors LLC acquired a new stake in Brookfield Business Corp (NYSE:BBUC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 38,196 shares of the company’s stock, valued at approximately $1,140,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. California State Teachers Retirement System bought a new stake in Brookfield Business during the second quarter worth about $859,000. TD Waterhouse Canada Inc. acquired a new position in Brookfield Business during the second quarter valued at approximately $23,247,000. Public Employees Retirement System of Ohio boosted its position in Brookfield Business by 78.5% during the second quarter. Public Employees Retirement System of Ohio now owns 16,012 shares of the company’s stock valued at $478,000 after purchasing an additional 7,044 shares during the last quarter. Hsbc Holdings PLC grew its stake in Brookfield Business by 73.7% in the fourth quarter. Hsbc Holdings PLC now owns 33,914 shares of the company’s stock valued at $1,211,000 after purchasing an additional 14,393 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in Brookfield Business by 68.4% in the fourth quarter. Mackenzie Financial Corp now owns 25,942 shares of the company’s stock valued at $931,000 after purchasing an additional 10,536 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Trading Down 1.0%

Shares of NYSE:BBUC opened at $26.34 on Friday. Brookfield Business Corp has a 52-week low of $26.00 and a 52-week high of $38.25. 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 company has a market capitalization of $5.45 billion, a P/E ratio of -67.55 and a beta of 1.25. The company has a 50-day simple moving average of $29.47 and a 200 day simple moving average of $31.68.

Brookfield Business (NYSE:BBUC) last announced its quarterly 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 return on equity of 2.05% and a net margin of 1.13%. Sell-side analysts forecast that Brookfield Business Corp will post 5.31 earnings per share for the current year.

Brookfield Business Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, August 31st. Brookfield Business’s payout ratio is currently -64.10%.

Wall Street Analyst Weigh In

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

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.