Principal Financial Group Inc. Has $2.73 Million Stock Position in Brookfield Business Partners L.P. (NYSE:BBU)

Principal Financial Group Inc. increased its stake in Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 29.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,189 shares of the business services provider's stock after purchasing an additional 26,947 shares during the quarter. Principal Financial Group Inc. owned approximately 0.16% of Brookfield Business Partners worth $2,731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BBU. Intact Investment Management Inc. purchased a new stake in shares of Brookfield Business Partners in the third quarter valued at $45,000. Bank of New York Mellon Corp acquired a new position in Brookfield Business Partners during the second quarter valued at $307,000. Tandem Capital Management Corp ADV lifted its stake in Brookfield Business Partners by 24.5% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider's stock worth $890,000 after acquiring an additional 7,939 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Brookfield Business Partners by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider's stock worth $770,000 after acquiring an additional 608 shares during the period. Finally, AYAL Capital Advisors Ltd grew its stake in Brookfield Business Partners by 97.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider's stock valued at $848,000 after acquiring an additional 22,200 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company's stock.

Brookfield Business Partners Stock Up 1.4 %

NYSE:BBU traded up $0.35 during mid-day trading on Friday, reaching $25.04. The stock had a trading volume of 13,071 shares, compared to its average volume of 15,434. The business's 50 day moving average is $23.38 and its 200 day moving average is $20.83. Brookfield Business Partners L.P. has a fifty-two week low of $15.34 and a fifty-two week high of $25.64. The stock has a market cap of $1.86 billion, a P/E ratio of 3.09 and a beta of 1.45. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.17 and a quick ratio of 0.95.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last posted its earnings results on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.39. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. The firm had revenue of $9.23 billion during the quarter. During the same quarter last year, the firm posted $1.33 earnings per share. As a group, sell-side analysts predict that Brookfield Business Partners L.P. will post 5.43 earnings per share for the current year.

Brookfield Business Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.063 dividend. The ex-dividend date is Friday, November 29th. This is a positive change from Brookfield Business Partners's previous quarterly dividend of $0.06. This represents a $0.25 dividend on an annualized basis and a yield of 1.01%. Brookfield Business Partners's dividend payout ratio (DPR) is presently 3.09%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada restated an "outperform" rating and set a $32.00 price target on shares of Brookfield Business Partners in a report on Monday, August 5th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Brookfield Business Partners presently has a consensus rating of "Buy" and an average target price of $31.40.

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.