Brookfield Business Partners (NYSE:BBU) Sees Large Volume Increase - Still a 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 traded hands during 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 topic of several analyst reports. Wall Street Zen cut Brookfield Business Partners from a "buy" rating to a "hold" rating in a research note on Saturday. Scotiabank lifted their price objective 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 target price on shares of Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating on the stock in a research note on Monday, April 28th. Royal Bank Of Canada started 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 on the stock. 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 report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.00.

Brookfield Business Partners Trading Down 0.9%

The company has a 50-day moving average price of $25.47 and a 200-day moving average price of $23.68. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -74.25 and a beta of 1.32. 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 company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were given a $0.0625 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.99%. Brookfield Business Partners's dividend payout ratio (DPR) is presently -73.53%.

Institutional Trading of Brookfield Business Partners

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Brookfield Business Partners by 11.7% in the 1st quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider's stock valued at $465,000 after purchasing an additional 2,078 shares during the period. Gold Investment Management Ltd. boosted its position in shares of Brookfield Business Partners by 20.9% in the 1st quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider's stock valued at $921,000 after purchasing an additional 6,791 shares during the period. The Manufacturers Life Insurance Company increased its position in Brookfield Business Partners by 2.8% in 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 during the period. K2 Principal Fund L.P. increased its position in Brookfield Business Partners by 5.8% in the 4th quarter. K2 Principal Fund L.P. now owns 52,385 shares of the business services provider's stock valued at $1,227,000 after acquiring an additional 2,880 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Brookfield Business Partners by 64.7% in the 4th quarter. Russell Investments Group Ltd. now owns 63,017 shares of the business services provider's stock valued at $1,485,000 after acquiring an additional 24,755 shares during the period. 85.04% of the stock is owned by institutional investors and hedge funds.

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.