Triasima Portfolio Management inc. Has $3.52 Million Stake in Brookfield Business Partners L.P. $BBU

Key Points

• Triasima Portfolio Management Inc. reduced its stake in Brookfield Business Partners L.P. by 20.5%, holding 135,680 shares valued at approximately $3.52 million after selling 35,005 shares.
• The company recently announced a quarterly dividend of $0.0625, representing a 0.7% yield, although Brookfield Business Partners' dividend payout ratio stands at -192.31%.
• Analysts have mixed opinions on the stock, with price targets ranging from $34.00 to $39.00, and an average rating of "Hold" with a target of $35.83.

Triasima Portfolio Management inc. trimmed its stake in Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 20.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,680 shares of the business services provider's stock after selling 35,005 shares during the period. Triasima Portfolio Management inc. owned about 0.15% of Brookfield Business Partners worth $3,523,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BBU. BROOKFIELD Corp ON increased its holdings in Brookfield Business Partners by 72.5% in the first quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider's stock valued at $1,035,806,000 after purchasing an additional 18,549,503 shares during the period. AGF Management Ltd. increased its holdings in Brookfield Business Partners by 58.2% in the first quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider's stock valued at $8,030,000 after purchasing an additional 126,189 shares during the period. Gold Investment Management Ltd. increased its holdings 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 purchasing an additional 6,791 shares during the period. Federation des caisses Desjardins du Quebec increased its holdings 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 purchasing an additional 6,090 shares during the period. Finally, TD Asset Management Inc increased its holdings 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 purchasing an additional 4,032 shares during the period. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Business Partners Trading Up 0.0%

NYSE:BBU opened at $33.51 on Wednesday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.36 and a current ratio of 1.67. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -257.77 and a beta of 1.38. Brookfield Business Partners L.P. has a 52 week low of $18.63 and a 52 week high of $33.86. The firm has a 50-day moving average price of $27.70 and a two-hundred day moving average price of $25.29.

Brookfield Business Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were paid a $0.0625 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.25 annualized dividend and a yield of 0.7%. Brookfield Business Partners's dividend payout ratio (DPR) is -192.31%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Scotiabank set a $39.00 price target on shares of Brookfield Business Partners and gave the company an "outperform" rating in a research report on Thursday, October 2nd. Wall Street Zen cut shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Zacks Research cut shares of Brookfield Business Partners from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 30th. Desjardins upped their price target on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Brookfield Business Partners in a research report on Saturday, September 27th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $35.83.

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.

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