Scheer Rowlett & Associates Investment Management Ltd. decreased its stake in shares of Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 28.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 460,629 shares of the business services provider's stock after selling 181,206 shares during the quarter. Brookfield Business Partners accounts for about 0.8% of Scheer Rowlett & Associates Investment Management Ltd.'s investment portfolio, making the stock its 27th biggest position. Scheer Rowlett & Associates Investment Management Ltd. owned about 0.62% of Brookfield Business Partners worth $10,849,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in shares of Brookfield Business Partners by 8.9% during 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 acquiring an additional 1,448 shares during the period. Gold Investment Management Ltd. raised its position 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 last quarter. BBR Partners LLC bought a new position in Brookfield Business Partners in the 4th quarter valued at $241,000. National Bank of Canada FI raised its position in Brookfield Business Partners by 20.6% in 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 purchasing an additional 16,684 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Brookfield Business Partners by 29.9% in the 3rd quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider's stock valued at $2,731,000 after purchasing an additional 26,947 shares during the last quarter. Institutional investors and hedge funds own 85.04% of the company's stock.
Brookfield Business Partners Trading Down 1.4 %
Shares of Brookfield Business Partners stock traded down $0.32 during trading on Wednesday, reaching $22.08. 10,995 shares of the company were exchanged, compared to its average volume of 15,113. The company has a quick ratio of 0.39, a current ratio of 0.50 and a debt-to-equity ratio of 2.12. Brookfield Business Partners L.P. has a twelve month low of $16.85 and a twelve month high of $26.75. The business has a 50-day moving average price of $23.13 and a 200-day moving average price of $23.11. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -45.05 and a beta of 1.50.
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, topping analysts' consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.09% and a net margin of 2.20%. Sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.13%. Brookfield Business Partners's dividend payout ratio (DPR) is presently -51.02%.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on BBU. Royal Bank of Canada dropped their target price on Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Scotiabank restated an "outperform" rating on shares of Brookfield Business Partners in a research report on Monday, February 3rd. Finally, BMO Capital Markets boosted their target price on 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $32.33.
View Our Latest Stock Report on BBU
Brookfield Business Partners Company 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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