Brookfield Business Partners L.P. (NYSE:BBU) Shares Acquired by Forge First Asset Management Inc.

Forge First Asset Management Inc. raised its stake in shares of Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 48.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 532,964 shares of the business services provider's stock after acquiring an additional 173,500 shares during the quarter. Brookfield Business Partners makes up 4.5% of Forge First Asset Management Inc.'s portfolio, making the stock its 8th biggest position. Forge First Asset Management Inc. owned 0.72% of Brookfield Business Partners worth $12,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Brookfield Corp ON boosted its stake in Brookfield Business Partners by 1.7% during the 3rd quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider's stock valued at $596,538,000 after acquiring an additional 428,511 shares during the last quarter. PCJ Investment Counsel Ltd. boosted its stake in Brookfield Business Partners by 6.6% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 1,618,655 shares of the business services provider's stock valued at $38,041,000 after acquiring an additional 99,763 shares during the last quarter. Bank of Montreal Can boosted its stake in Brookfield Business Partners by 8.7% during the 3rd quarter. Bank of Montreal Can now owns 834,512 shares of the business services provider's stock valued at $20,193,000 after acquiring an additional 66,786 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Brookfield Business Partners by 13.6% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider's stock valued at $18,145,000 after acquiring an additional 92,413 shares during the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in Brookfield Business Partners by 14.7% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider's stock valued at $15,047,000 after acquiring an additional 82,372 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors.

Brookfield Business Partners Stock Down 0.4 %

BBU stock opened at $22.33 on Wednesday. The company's 50 day simple moving average is $23.13 and its 200-day simple moving average is $23.11. Brookfield Business Partners L.P. has a 52-week low of $16.85 and a 52-week high of $26.75. The firm has a market capitalization of $1.66 billion, a P/E ratio of -45.57 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.50 and a quick ratio of 0.39.

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Brookfield Business Partners (NYSE:BBU - Get Free Report) last announced 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%. As a group, equities research analysts anticipate that Brookfield Business Partners L.P. will post 5.25 EPS for the current year.

Brookfield Business Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, February 28th. Brookfield Business Partners's payout ratio is -51.02%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BBU. Scotiabank restated an "outperform" rating on shares of Brookfield Business Partners in a research report on Monday, February 3rd. Royal Bank of Canada cut 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 research report on Monday, February 3rd. Finally, BMO Capital Markets boosted their price target on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $32.33.

About Brookfield Business Partners

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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