Royal Bank of Canada Grows Holdings in Brookfield Business Partners L.P. (NYSE:BBU)

Royal Bank of Canada increased its holdings in shares of Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,718,131 shares of the business services provider's stock after buying an additional 64,007 shares during the period. Royal Bank of Canada owned about 10.39% of Brookfield Business Partners worth $180,759,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BBU. Intact Investment Management Inc. grew its stake 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 worth $68,000 after acquiring an additional 1,000 shares in the last quarter. Gold Investment Management Ltd. boosted its holdings in Brookfield Business Partners by 3.2% in the fourth quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider's stock valued at $767,000 after purchasing an additional 1,017 shares during the period. The Manufacturers Life Insurance Company grew its stake in Brookfield Business Partners by 2.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider's stock worth $987,000 after purchasing an additional 1,146 shares in the last quarter. Bank of New York Mellon Corp grew 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 purchasing an additional 1,448 shares in the last quarter. Finally, K2 Principal Fund L.P. increased its holdings in Brookfield Business Partners by 5.8% during the 4th quarter. K2 Principal Fund L.P. now owns 52,385 shares of the business services provider's stock worth $1,227,000 after purchasing an additional 2,880 shares during the period. 85.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on BBU. National Bankshares decreased their price objective on Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. CIBC decreased their price target on shares of Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating for the company in a research note on Monday, April 28th. Royal Bank of Canada lowered their price target on shares of Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Finally, Scotiabank reduced their price objective on shares of 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. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $31.00.

Brookfield Business Partners Stock Up 0.4%

Shares of BBU traded up $0.09 during mid-day trading on Friday, reaching $24.86. The company's stock had a trading volume of 673 shares, compared to its average volume of 17,688. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.50 and a quick ratio of 0.39. Brookfield Business Partners L.P. has a 12-month low of $16.85 and a 12-month high of $26.75. The stock has a market cap of $2.22 billion, a PE ratio of -50.73 and a beta of 1.28. The company's 50 day moving average is $22.51 and its 200 day moving average is $23.21.

Brookfield Business Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a dividend of $0.0625 per share. The ex-dividend date is Friday, May 30th. This represents a $0.25 annualized dividend and a yield of 1.01%. Brookfield Business Partners's dividend payout ratio is currently -73.53%.

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.