BROOKFIELD Corp ON Has $1.04 Billion Holdings in Brookfield Business Partners L.P. $BBU

Key Points

• BROOKFIELD Corp ON increased its stake in Brookfield Business Partners L.P. by 72.5%, now holding over 44 million shares, accounting for 5.9% of its portfolio.
• Brookfield Business Partners announced a quarterly dividend of $0.0625, with an annual yield of 0.9%, to be paid on September 29th.
• The stock's consensus rating is "Buy" with an average target price of $32.50 following recent adjustments from several analysts.

BROOKFIELD Corp ON boosted its holdings in Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 72.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,152,007 shares of the business services provider's stock after buying an additional 18,549,503 shares during the period. Brookfield Business Partners makes up about 5.9% of BROOKFIELD Corp ON's investment portfolio, making the stock its 5th largest position. BROOKFIELD Corp ON owned about 49.40% of Brookfield Business Partners worth $1,035,806,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BBU. Bank of New York Mellon Corp lifted its stake in shares of Brookfield Business Partners by 11.7% during the first quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider's stock valued at $465,000 after acquiring an additional 2,078 shares during the period. Gold Investment Management Ltd. lifted its stake in Brookfield Business Partners by 20.9% in the first quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider's stock valued at $921,000 after buying an additional 6,791 shares during the period. Federation des caisses Desjardins du Quebec lifted its stake in Brookfield Business Partners by 6.2% in the first quarter. Federation des caisses Desjardins du Quebec now owns 104,106 shares of the business services provider's stock valued at $2,439,000 after buying an additional 6,090 shares during the period. TD Asset Management Inc lifted its stake in Brookfield Business Partners by 2.7% in the first quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider's stock valued at $3,625,000 after buying an additional 4,032 shares during the period. Finally, Triasima Portfolio Management inc. acquired a new position in Brookfield Business Partners in the first quarter valued at about $3,997,000. 85.04% of the stock is currently owned by institutional investors.

Brookfield Business Partners Price Performance

NYSE BBU traded up $0.02 during midday trading on Tuesday, hitting $27.26. The company had a trading volume of 10,773 shares, compared to its average volume of 20,455. The company has a current ratio of 1.67, a quick ratio of 1.36 and a debt-to-equity ratio of 2.90. Brookfield Business Partners L.P. has a twelve month low of $18.63 and a twelve month high of $28.28. The company has a market capitalization of $2.42 billion, a PE ratio of -209.69 and a beta of 1.34. The firm has a 50-day moving average price of $26.09 and a 200-day moving average price of $24.45.

Brookfield Business Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Business Partners's dividend payout ratio is -192.31%.

Analyst Ratings Changes

Several equities research analysts have issued reports on BBU shares. Scotiabank lowered their price target on Brookfield Business Partners from $31.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, August 5th. Wall Street Zen downgraded Brookfield Business Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada increased their price objective on Brookfield Business Partners from $33.00 to $35.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Desjardins increased their price objective on Brookfield Business Partners from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $32.50.

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.