Private Management Group Inc. Decreases Stake in Brookfield Business Corp $BBUC

Private Management Group Inc. lowered its holdings in Brookfield Business Corp (NYSE:BBUC) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,026,830 shares of the company’s stock after selling 29,055 shares during the quarter. Brookfield Business accounts for about 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 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Signaturefd LLC grew its holdings in shares of Brookfield Business by 29.4% in the fourth quarter. Signaturefd LLC now owns 3,018 shares of the company’s stock worth $108,000 after acquiring an additional 685 shares during the period. SG Americas Securities LLC bought a new stake in shares of Brookfield Business in the fourth quarter worth $178,000. Franklin Resources Inc. grew its holdings in shares of Brookfield Business by 7.1% in the fourth quarter. Franklin Resources Inc. now owns 7,302 shares of the company’s stock worth $262,000 after acquiring an additional 482 shares during the period. Handelsbanken Fonder AB bought a new stake in shares of Brookfield Business in the fourth quarter worth $323,000. Finally, Strs Ohio bought a new stake in shares of Brookfield Business in the fourth quarter worth $431,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Brookfield Business Stock Performance

NYSE:BBUC opened at $31.57 on Friday. The stock has a 50-day simple moving average of $33.35 and a two-hundred day simple moving average of $34.30. Brookfield Business Corp has a 52-week low of $27.76 and a 52-week high of $38.25. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.19 and a current ratio of 1.43. The firm has a market capitalization of $6.54 billion, a PE ratio of -70.16 and a beta of 1.24.

Brookfield Business (NYSE:BBUC) last released its quarterly earnings results on Friday, May 8th. The company reported $999.00 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.44 billion during the quarter. Analysts forecast that Brookfield Business Corp will post 5.54 EPS for the current year.

Brookfield Business Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently commented on BBUC shares. Wall Street Zen raised Brookfield Business from a “hold” rating to a “buy” rating in a report on Monday. Scotiabank reaffirmed an “outperform” rating 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. Canadian Imperial Bank of Commerce set a $41.50 price objective on Brookfield Business in a report on Monday, May 11th. Finally, National Bank Financial cut their price objective on Brookfield Business from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Brookfield Business has an average rating of “Hold” and a consensus price target of $39.90.

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.