Brookfield Business Partners (NYSE:BBU) Sees Large Volume Increase - Time to Buy?

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 13,439 shares changed hands during mid-day trading, a decline of 18% from the previous session's volume of 16,387 shares.The stock last traded at $25.70 and had previously closed at $25.41.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BBU. National Bankshares reduced their price target on shares of Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. CIBC decreased their target price on shares of Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating for the company in a research note on Monday, April 28th. Royal Bank Of Canada assumed coverage on shares of 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. Finally, Scotiabank lowered their target price on Brookfield Business Partners from $33.00 to $29.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 24th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $31.60.

Brookfield Business Partners Stock Performance

The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -76.97 and a beta of 1.32. The firm's 50 day moving average is $24.33 and its 200-day moving average is $23.26. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were given a dividend of $0.0625 per share. The ex-dividend date was Friday, May 30th. This represents a $0.25 dividend on an annualized basis and a yield of 0.96%. Brookfield Business Partners's payout ratio is currently -73.53%.

Institutional Investors Weigh In On Brookfield Business Partners

Hedge funds have recently modified their holdings of the business. Intact Investment Management Inc. increased its holdings 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 buying an additional 1,000 shares during the period. Gold Investment Management Ltd. lifted its holdings 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 worth $767,000 after acquiring an additional 1,017 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of 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 valued at $987,000 after acquiring an additional 1,146 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in 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 worth $415,000 after purchasing an additional 1,448 shares during the period. Finally, K2 Principal Fund L.P. boosted its holdings in Brookfield Business Partners by 5.8% during the fourth quarter. K2 Principal Fund L.P. now owns 52,385 shares of the business services provider's stock valued at $1,227,000 after purchasing an additional 2,880 shares in the last quarter. 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.