Brookfield Business Partners (NYSE:BBU) Downgraded to Hold Rating by Wall Street Zen

Key Points

• BROOKFIELD BUSINESS PARTNERS has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating.
• Scotiabank raised its price target on the stock from $29.00 to $31.00, while CIBC and National Bankshares have lowered their price targets to $30.00 and $32.00 respectively.
• Approximately 85.04% of Brookfield’s stock is owned by hedge funds and institutional investors, indicating strong institutional interest.

Wall Street Zen cut shares of Brookfield Business Partners (NYSE:BBU - Free Report) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other brokerages have also recently weighed in on BBU. Royal Bank Of Canada began coverage on Brookfield Business Partners in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $33.00 price target on the stock. Scotiabank lifted their target price on Brookfield Business Partners from $29.00 to $31.00 and gave the company an "outperform" rating in a research note on Friday, July 4th. CIBC cut their price target on Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating for the company in a report on Monday, April 28th. Finally, National Bankshares dropped their target price on Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.00.

Brookfield Business Partners Price Performance

BBU traded up $0.30 during midday trading on Friday, hitting $25.65. The stock had a trading volume of 84,717 shares, compared to its average volume of 21,461. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.21 and a current ratio of 1.48. Brookfield Business Partners has a 1 year low of $18.45 and a 1 year high of $27.47. The business has a fifty day moving average of $25.47 and a 200 day moving average of $23.64. The company has a market cap of $2.28 billion, a P/E ratio of -75.42 and a beta of 1.32.

Brookfield Business Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, May 30th. Brookfield Business Partners's payout ratio is -73.53%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its stake in Brookfield Business Partners by 2.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider's stock worth $987,000 after buying an additional 1,146 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Brookfield Business Partners by 64.7% in the fourth quarter. Russell Investments Group Ltd. now owns 63,017 shares of the business services provider's stock worth $1,485,000 after buying an additional 24,755 shares during the last quarter. Bank of New York Mellon Corp boosted its stake 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 worth $415,000 after buying an additional 1,448 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Brookfield Business Partners by 0.8% in the fourth quarter. Royal Bank of Canada now owns 7,718,131 shares of the business services provider's stock worth $180,759,000 after buying an additional 64,007 shares during the last quarter. Finally, Triasima Portfolio Management inc. purchased a new stake in shares of Brookfield Business Partners in the first quarter worth about $3,997,000. 85.04% of the stock is owned by institutional investors.

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.