Brookfield Business Partners (NYSE:BBU) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• Brookfield Business Partners (NYSE:BBU) experienced a significant increase in trading volume, rising 145% to 44,595 shares traded.
• Several analysts have recently adjusted their price targets for BBU, with an average target price of $32.00 and a consensus rating of "Buy."
• The company announced a quarterly dividend of $0.0625, which represents a 0.97% dividend yield.
• Institutional investors hold a majority of the company's stock, with hedge funds owning approximately 85.04% of BBU shares.

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) saw unusually-high trading volume on Friday . Approximately 44,595 shares changed hands during mid-day trading, an increase of 145% from the previous session's volume of 18,192 shares.The stock last traded at $25.60 and had previously closed at $25.35.

Wall Street Analyst Weigh In

BBU has been the subject of several research reports. CIBC lowered their price objective on shares of Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating for the company in a research report on Monday, April 28th. Royal Bank Of Canada assumed coverage on shares of Brookfield Business Partners in a report on Wednesday, June 18th. They issued an "outperform" rating and a $33.00 target price for the company. Scotiabank upped their price target on shares of Brookfield Business Partners from $29.00 to $31.00 and gave the company an "outperform" rating in a report on Friday, July 4th. Finally, National Bankshares reduced 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 report on Wednesday, April 30th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $32.00.

Brookfield Business Partners Stock Up 1.8%

The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -75.91 and a beta of 1.32. The business's 50-day moving average is $25.46 and its two-hundred day moving average is $23.62. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 2.97.

Brookfield Business Partners Announces Dividend

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

Institutional Trading of Brookfield Business Partners

Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its holdings in Brookfield Business Partners by 2.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider's stock valued at $987,000 after buying an additional 1,146 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in 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 valued at $415,000 after acquiring an additional 1,448 shares in the last quarter. Gold Investment Management Ltd. boosted its stake in shares of Brookfield Business Partners by 6.8% during the second quarter. Gold Investment Management Ltd. now owns 41,994 shares of the business services provider's stock worth $1,092,000 after buying an additional 2,685 shares during the period. K2 Principal Fund L.P. boosted its stake in shares of 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 worth $1,227,000 after buying an additional 2,880 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of Brookfield Business Partners by 2.7% during the first quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider's stock worth $3,625,000 after buying an additional 4,032 shares during the period. Institutional investors and hedge funds own 85.04% of the company's stock.

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.

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