Toronto Dominion Bank Acquires 40,311 Shares of Brookfield Business Partners L.P. (NYSE:BBU)

Toronto Dominion Bank grew its holdings in Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 301,080 shares of the business services provider's stock after buying an additional 40,311 shares during the quarter. Toronto Dominion Bank owned 0.41% of Brookfield Business Partners worth $7,091,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Intact Investment Management Inc. grew its holdings in shares of Brookfield Business Partners by 52.6% in the 4th quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider's stock worth $68,000 after purchasing an additional 1,000 shares during the last quarter. BBR Partners LLC bought a new stake in shares of Brookfield Business Partners in the 4th quarter worth about $241,000. Bank of New York Mellon Corp grew its holdings in shares of Brookfield Business Partners by 8.9% in 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 during the last quarter. Gold Investment Management Ltd. grew its holdings in shares of Brookfield Business Partners by 3.2% in the 4th quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider's stock worth $767,000 after purchasing an additional 1,017 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of 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 worth $987,000 after purchasing an additional 1,146 shares during the last quarter. Institutional investors and hedge funds own 85.04% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BBU. Royal Bank of Canada lowered their target price on shares of Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. CIBC lowered 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 report on Monday, April 28th. Scotiabank lowered their target price 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. Finally, National Bankshares lowered their target price 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. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $31.00.

Brookfield Business Partners Price Performance

NYSE:BBU traded up $0.18 during mid-day trading on Tuesday, reaching $25.01. 2,712 shares of the company were exchanged, compared to its average volume of 17,653. Brookfield Business Partners L.P. has a 12 month low of $16.85 and a 12 month high of $26.75. The company has a fifty day moving average of $22.56 and a 200 day moving average of $23.21. The company has a quick ratio of 0.39, a current ratio of 0.50 and a debt-to-equity ratio of 2.12. The stock has a market cap of $2.24 billion, a PE ratio of -51.04 and a beta of 1.28.

Brookfield Business Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, May 30th. 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.