Scotia Capital Inc. decreased its stake in Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 39.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,214 shares of the business services provider's stock after selling 22,719 shares during the quarter. Scotia Capital Inc.'s holdings in Brookfield Business Partners were worth $778,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Intact Investment Management Inc. raised its stake in Brookfield Business Partners by 52.6% during the 4th 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 during the period. Gold Investment Management Ltd. boosted its position in shares of Brookfield Business Partners by 3.2% during the fourth quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider's stock valued at $767,000 after buying an additional 1,017 shares during the period. Bank of New York Mellon Corp grew its position in 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 acquiring an additional 1,448 shares during the last quarter. BBR Partners LLC purchased a new position in Brookfield Business Partners in the 4th quarter worth about $241,000. Finally, Russell Investments Group Ltd. increased its holdings in Brookfield Business Partners by 64.7% during the 4th quarter. Russell Investments Group Ltd. now owns 63,017 shares of the business services provider's stock worth $1,485,000 after purchasing an additional 24,755 shares during the period. Institutional investors own 85.04% of the company's stock.
Analyst Ratings Changes
BBU has been the topic of a number of recent research reports. Scotiabank reiterated an "outperform" rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd. Royal Bank of Canada lowered their price target on Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Finally, BMO Capital Markets raised their target price on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Friday, January 10th.
Read Our Latest Report on BBU
Brookfield Business Partners Price Performance
Shares of Brookfield Business Partners stock traded up $0.26 on Friday, reaching $20.39. The company's stock had a trading volume of 6,224 shares, compared to its average volume of 15,126. Brookfield Business Partners L.P. has a 52-week low of $16.85 and a 52-week high of $26.75. The company has a market capitalization of $1.82 billion, a P/E ratio of -41.61 and a beta of 1.34. 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 50-day moving average price of $23.03 and a 200-day moving average price of $23.23.
Brookfield Business Partners (NYSE:BBU - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.09%. Analysts expect that Brookfield Business Partners L.P. will post 5.25 EPS for the current year.
Brookfield Business Partners Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a $0.0625 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.25 dividend on an annualized basis and a yield of 1.23%. Brookfield Business Partners's payout ratio is currently -51.02%.
Brookfield Business Partners Profile
(
Free Report)
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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