Toronto Dominion Bank Raises Stake in Brookfield Business Partners L.P. (NYSE:BBU)

Toronto Dominion Bank grew its holdings in shares of Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 12,276.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 260,769 shares of the business services provider's stock after purchasing an additional 258,662 shares during the period. Toronto Dominion Bank owned approximately 0.35% of Brookfield Business Partners worth $6,076,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BBU. Intact Investment Management Inc. acquired a new position in Brookfield Business Partners during the third quarter worth $45,000. Bank of New York Mellon Corp acquired a new position in shares of Brookfield Business Partners during the 2nd quarter worth $307,000. Gold Investment Management Ltd. increased its holdings in shares of 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 in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Brookfield Business Partners by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider's stock valued at $770,000 after purchasing an additional 608 shares in the last quarter. Finally, AYAL Capital Advisors Ltd lifted its stake in shares of Brookfield Business Partners by 97.4% in the second quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider's stock valued at $848,000 after purchasing an additional 22,200 shares during the period. 85.04% of the stock is owned by hedge funds and other institutional investors.

Brookfield Business Partners Price Performance

BBU traded down $0.61 on Friday, hitting $23.68. 30,585 shares of the company were exchanged, compared to its average volume of 14,680. Brookfield Business Partners L.P. has a fifty-two week low of $16.85 and a fifty-two week high of $26.75. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 1.17. The firm has a market capitalization of $1.76 billion, a P/E ratio of 2.92 and a beta of 1.48. The business's fifty day moving average is $24.09 and its 200 day moving average is $21.47.

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

Brookfield Business Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a $0.063 dividend. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 1.06%. Brookfield Business Partners's payout ratio is currently 3.09%.

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.