Brookfield Business Partners (NYSE:BBU) Sees Unusually-High Trading Volume - Here's Why

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 28,459 shares traded hands during mid-day trading, an increase of 74% from the previous session's volume of 16,398 shares.The stock last traded at $26.22 and had previously closed at $27.16.

Analysts Set New Price Targets

A number of research firms recently commented on BBU. Scotiabank lifted their target price on Brookfield Business Partners from $29.00 to $31.00 and gave the stock an "outperform" rating in a report on Friday, July 4th. Royal Bank Of Canada initiated coverage on shares of Brookfield Business Partners in a research note on Wednesday, June 18th. They set an "outperform" rating and a $33.00 price objective for the company. National Bankshares cut their price objective on shares of Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, CIBC reduced 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 report on Monday, April 28th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $32.00.

Brookfield Business Partners Stock Down 1.4%

The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.21 and a current ratio of 1.48. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -75.04 and a beta of 1.32. The business's 50 day moving average price is $25.04 and its 200 day moving average price is $23.45.

Brookfield Business Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 30th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, May 30th. Brookfield Business Partners's dividend payout ratio (DPR) is presently -73.53%.

Hedge Funds Weigh In On Brookfield Business Partners

Large investors have recently bought and sold shares of the business. Intact Investment Management Inc. grew its holdings in Brookfield Business Partners by 52.6% in the fourth quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider's stock valued at $68,000 after purchasing an additional 1,000 shares during the period. Bank of New York Mellon Corp grew its stake in Brookfield Business Partners by 8.9% in the 4th 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. increased its holdings in Brookfield Business Partners by 3.2% in 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 in the last quarter. The Manufacturers Life Insurance Company raised its position in Brookfield Business Partners by 2.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider's stock worth $987,000 after acquiring an additional 1,146 shares during the period. Finally, K2 Principal Fund L.P. lifted 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. Institutional investors and hedge funds own 85.04% of the company's stock.

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.