Triasima Portfolio Management inc. Takes $4 Million Position in Brookfield Business Partners L.P. (NYSE:BBU)

Triasima Portfolio Management inc. bought a new stake in Brookfield Business Partners L.P. (NYSE:BBU - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 170,685 shares of the business services provider's stock, valued at approximately $3,997,000. Triasima Portfolio Management inc. owned 0.19% of Brookfield Business Partners as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position 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 valued at $415,000 after purchasing an additional 1,448 shares during the period. Gold Investment Management Ltd. lifted its holdings in shares of Brookfield Business Partners by 20.9% in the 1st 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. The Manufacturers Life Insurance Company increased its stake in 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 valued at $987,000 after purchasing an additional 1,146 shares in the last quarter. K2 Principal Fund L.P. increased its stake in Brookfield Business Partners by 5.8% in the 4th quarter. K2 Principal Fund L.P. now owns 52,385 shares of the business services provider's stock valued at $1,227,000 after purchasing an additional 2,880 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Brookfield Business Partners by 64.7% in the 4th quarter. Russell Investments Group Ltd. now owns 63,017 shares of the business services provider's stock valued at $1,485,000 after purchasing an additional 24,755 shares in the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BBU has been the subject of several recent research reports. Royal Bank Of Canada initiated coverage on Brookfield Business Partners in a research report on Wednesday, June 18th. They set an "outperform" rating and a $33.00 price target for the company. Scotiabank boosted their price objective on Brookfield Business Partners from $29.00 to $31.00 and gave the stock an "outperform" rating in a research note on Friday, July 4th. National Bankshares cut their price target on Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, CIBC cut their price objective on Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating on the stock in a research note on Monday, April 28th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Brookfield Business Partners presently has an average rating of "Buy" and a consensus price target of $32.00.

Brookfield Business Partners Price Performance

NYSE BBU traded down $0.42 on Thursday, reaching $25.75. 19,701 shares of the stock traded hands, compared to its average volume of 16,426. The firm's fifty day simple moving average is $25.29 and its 200 day simple moving average is $23.52. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 2.97. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -75.73 and a beta of 1.32. Brookfield Business Partners L.P. has a 12 month low of $18.45 and a 12 month high of $27.47.

Brookfield Business Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, May 30th. Brookfield Business Partners's payout ratio is currently -73.53%.

Brookfield Business Partners Company 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.