PCJ Investment Counsel Ltd. Boosts Position in Brookfield Business Partners L.P. (NYSE:BBU)

PCJ Investment Counsel Ltd. increased its stake in shares of Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,618,655 shares of the business services provider's stock after buying an additional 99,763 shares during the quarter. Brookfield Business Partners accounts for 12.8% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its largest holding. PCJ Investment Counsel Ltd. owned 2.18% of Brookfield Business Partners worth $38,041,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. BBR Partners LLC bought a new position in Brookfield Business Partners in the 4th quarter valued at $241,000. Bank of New York Mellon Corp grew its stake in 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 purchasing an additional 1,448 shares during the period. Gold Investment Management Ltd. grew its stake in Brookfield Business Partners by 7.4% in the 3rd quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider's stock valued at $739,000 after purchasing an additional 2,169 shares during the period. Caldwell Investment Management Ltd. purchased a new position in shares of Brookfield Business Partners during the 4th quarter valued at $1,731,000. Finally, National Bank of Canada FI lifted its position in shares of Brookfield Business Partners by 20.6% during the 3rd quarter. National Bank of Canada FI now owns 97,584 shares of the business services provider's stock valued at $2,274,000 after buying an additional 16,684 shares during the last quarter. Institutional investors own 85.04% of the company's stock.

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Brookfield Business Partners Price Performance

NYSE BBU traded down $0.32 during trading on Wednesday, reaching $22.08. The company's stock had a trading volume of 10,995 shares, compared to its average volume of 15,113. The stock has a market capitalization of $1.64 billion, a PE ratio of -45.05 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. The firm has a fifty day moving average of $23.13 and a 200 day moving average of $23.11. Brookfield Business Partners L.P. has a one year low of $16.85 and a one year high of $26.75.

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 the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.09% and a net margin of 2.20%. Analysts expect that Brookfield Business Partners L.P. will post 5.25 EPS for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.25 annualized dividend and a yield of 1.13%. Brookfield Business Partners's payout ratio is -51.02%.

Analyst Ratings Changes

A number of analysts recently issued reports on BBU shares. Royal Bank of Canada dropped their price objective on Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Scotiabank reissued an "outperform" rating on shares of Brookfield Business Partners in a report on Monday, February 3rd. Finally, BMO Capital Markets increased their price objective on Brookfield Business Partners from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $32.33.

Brookfield Business Partners Company Profile

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.