Montrusco Bolton Investments Inc. Lowers Stock Position in Brookfield Business Partners L.P. (NYSE:BBU)

Montrusco Bolton Investments Inc. trimmed its stake in shares of Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 29.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,783 shares of the business services provider's stock after selling 13,083 shares during the period. Montrusco Bolton Investments Inc.'s holdings in Brookfield Business Partners were worth $721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada lifted its position in shares of Brookfield Business Partners by 0.8% during the 4th quarter. Royal Bank of Canada now owns 7,718,131 shares of the business services provider's stock valued at $180,759,000 after acquiring an additional 64,007 shares during the period. TD Waterhouse Canada Inc. lifted its position in shares of Brookfield Business Partners by 2.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,020,778 shares of the business services provider's stock valued at $22,506,000 after acquiring an additional 22,713 shares during the period. Bank of Montreal Can lifted its position in shares of Brookfield Business Partners by 11.3% during the 4th quarter. Bank of Montreal Can now owns 928,564 shares of the business services provider's stock valued at $21,871,000 after acquiring an additional 94,052 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Brookfield Business Partners by 2.3% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 791,887 shares of the business services provider's stock valued at $18,651,000 after acquiring an additional 17,912 shares during the period. Finally, Toronto Dominion Bank raised its position in shares of Brookfield Business Partners by 15.5% during the 4th quarter. Toronto Dominion Bank now owns 301,080 shares of the business services provider's stock worth $7,091,000 after purchasing an additional 40,311 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. CIBC cut their price objective on 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. National Bankshares cut their price objective on 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. Royal Bank Of Canada assumed coverage on Brookfield Business Partners in a research report on Wednesday, June 18th. They set an "outperform" rating and a $33.00 price objective for the company. Finally, Scotiabank lifted their price objective on Brookfield Business Partners from $29.00 to $31.00 and gave the stock an "outperform" rating in a research report on Friday, July 4th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $32.00.

Brookfield Business Partners Trading Down 0.4%

BBU stock traded down $0.10 during midday trading on Friday, hitting $25.80. The stock had a trading volume of 37,776 shares, compared to its average volume of 16,507. The firm has a market cap of $2.29 billion, a PE ratio of -75.88 and a beta of 1.32. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.48 and a quick ratio of 1.21. Brookfield Business Partners L.P. has a 12-month low of $18.45 and a 12-month high of $27.47. The company's 50-day moving average price is $25.36 and its 200 day moving average price is $23.54.

Brookfield Business Partners Announces Dividend

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