Beutel Goodman & Co Ltd. cut its position in Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 734,790 shares of the business services provider's stock after selling 71,750 shares during the quarter. Beutel Goodman & Co Ltd. owned about 0.99% of Brookfield Business Partners worth $17,319,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Intact Investment Management Inc. raised its stake in Brookfield Business Partners by 52.6% in the 4th quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider's stock valued at $68,000 after acquiring an additional 1,000 shares during the period. BBR Partners LLC purchased a new position in shares of Brookfield Business Partners in the fourth quarter worth about $241,000. Bank of New York Mellon Corp raised its position in shares of Brookfield Business Partners by 8.9% in the fourth 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. lifted its stake in shares of Brookfield Business Partners by 3.2% during the 4th quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider's stock valued at $767,000 after buying an additional 1,017 shares in the last quarter. Finally, Caldwell Investment Management Ltd. bought a new position in Brookfield Business Partners in the 4th quarter worth approximately $1,731,000. Hedge funds and other institutional investors own 85.04% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Scotiabank restated an "outperform" rating on shares of Brookfield Business Partners in a research report on Monday, February 3rd. Royal Bank of Canada lowered their target price on shares of Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research note 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 company an "outperform" rating in a research report on Friday, January 10th.
Get Our Latest Stock Report on BBU
Brookfield Business Partners Price Performance
BBU traded up $0.03 on Wednesday, reaching $24.04. The company had a trading volume of 2,573 shares, compared to its average volume of 14,653. Brookfield Business Partners L.P. has a 52-week low of $16.85 and a 52-week high of $26.75. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -49.06 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.39 and a current ratio of 0.50. The business has a 50 day simple moving average of $23.43 and a 200 day simple moving average of $23.44.
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 earnings per share (EPS) for the quarter, topping 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, sell-side 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 was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were given a dividend of $0.0625 per share. The ex-dividend date was Friday, February 28th. This represents a $0.25 annualized dividend and a dividend yield of 1.04%. Brookfield Business Partners's dividend payout ratio (DPR) is presently -51.02%.
Brookfield Business Partners Profile
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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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