BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 17,912 Shares of Brookfield Business Partners L.P. (NYSE:BBU)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 791,887 shares of the business services provider's stock after acquiring an additional 17,912 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 1.07% of Brookfield Business Partners worth $18,651,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BBU. Intact Investment Management Inc. raised its position in shares of 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. BBR Partners LLC bought a new stake in shares of Brookfield Business Partners in the 4th quarter valued at $241,000. Bank of New York Mellon Corp raised its stake in Brookfield Business Partners by 8.9% during the 4th 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 period. Gold Investment Management Ltd. lifted its holdings in Brookfield Business Partners by 3.2% during the fourth 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. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of 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 worth $987,000 after acquiring an additional 1,146 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. National Bankshares decreased their target price 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. Scotiabank dropped their target price on Brookfield Business Partners from $33.00 to $29.00 and set a "sector outperform" rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada decreased their price target on Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Finally, CIBC lowered their price target on Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating on the stock in a research report on Monday, April 28th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $31.00.

Brookfield Business Partners Stock Performance

NYSE:BBU traded up $0.13 during mid-day trading on Tuesday, hitting $24.96. The stock had a trading volume of 13,438 shares, compared to its average volume of 16,224. Brookfield Business Partners L.P. has a twelve month low of $16.85 and a twelve month high of $26.75. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.39 and a current ratio of 0.50. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -50.93 and a beta of 1.28. The company's 50 day simple moving average is $22.56 and its 200 day simple moving average is $23.21.

Brookfield Business Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Business Partners's dividend payout ratio is presently -73.53%.

Brookfield Business Partners 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.