Bank of Montreal Can lifted its holdings in shares of Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 928,564 shares of the business services provider's stock after purchasing an additional 94,052 shares during the quarter. Bank of Montreal Can owned about 1.25% of Brookfield Business Partners worth $21,871,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Intact Investment Management Inc. boosted its stake in Brookfield Business Partners by 52.6% during the fourth quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider's stock worth $68,000 after buying an additional 1,000 shares during the period. BBR Partners LLC purchased a new stake in Brookfield Business Partners in the fourth quarter valued at approximately $241,000. Bank of New York Mellon Corp raised its holdings in shares of Brookfield Business Partners by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider's stock valued at $415,000 after buying an additional 1,448 shares during the period. Gold Investment Management Ltd. grew its position in Brookfield Business Partners by 3.2% in the 4th quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider's stock valued at $767,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Brookfield Business Partners by 64.7% during the fourth quarter. Russell Investments Group Ltd. now owns 63,017 shares of the business services provider's stock worth $1,485,000 after purchasing an additional 24,755 shares during the period. 85.04% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts recently weighed in on BBU shares. BMO Capital Markets upped their target price on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Friday, January 10th. Royal Bank of Canada reduced their price objective on shares of Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Finally, Scotiabank restated an "outperform" rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd.
Read Our Latest Report on BBU
Brookfield Business Partners Stock Performance
Shares of Brookfield Business Partners stock traded up $0.44 on Tuesday, hitting $20.97. The stock had a trading volume of 29,842 shares, compared to its average volume of 15,171. The company has a current ratio of 0.50, a quick ratio of 0.39 and a debt-to-equity ratio of 2.12. Brookfield Business Partners L.P. has a 52-week low of $16.85 and a 52-week high of $26.75. The company's 50 day moving average price is $23.23 and its 200 day moving average price is $23.31. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -42.80 and a beta of 1.34.
Brookfield Business Partners (NYSE:BBU - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.09%. On average, research analysts anticipate that Brookfield Business Partners L.P. will post 5.25 EPS for the current year.
Brookfield Business Partners Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Business Partners's dividend payout ratio is presently -51.02%.
Brookfield Business Partners Profile
(
Free Report)
Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.
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