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National Bank of Canada FI lifted its position in shares of Brookfield Business Partners L.P. (NYSE:BBU – Free Report) by 44.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,329 shares of the business services provider’s stock after purchasing an additional 23,520 shares during the quarter. National Bank of Canada FI owned approximately 0.10% of Brookfield Business Partners worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of BBU. UBS Group AG grew its holdings in shares of Brookfield Business Partners by 113.8% during the 4th quarter. UBS Group AG now owns 7,880 shares of the business services provider’s stock worth $134,000 after purchasing an additional 4,195 shares in the last quarter. Bank of America Corp DE boosted its stake in Brookfield Business Partners by 365.7% in the 1st quarter. Bank of America Corp DE now owns 8,163 shares of the business services provider’s stock valued at $250,000 after buying an additional 6,410 shares in the last quarter. Guardian Capital Advisors LP boosted its stake in Brookfield Business Partners by 61.2% in the 4th quarter. Guardian Capital Advisors LP now owns 16,404 shares of the business services provider’s stock valued at $300,000 after buying an additional 6,225 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Brookfield Business Partners by 28.5% in the 4th quarter. Principal Financial Group Inc. now owns 24,026 shares of the business services provider’s stock valued at $407,000 after buying an additional 5,332 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in Brookfield Business Partners by 184.0% in the 2nd quarter. Citadel Advisors LLC now owns 20,354 shares of the business services provider’s stock valued at $431,000 after buying an additional 13,187 shares in the last quarter. Institutional investors and hedge funds own 77.59% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on BBU. National Bankshares decreased their price target on Brookfield Business Partners from $36.00 to $35.00 in a research note on Tuesday, May 2nd. Credit Suisse Group initiated coverage on Brookfield Business Partners in a research note on Thursday, March 9th. They issued an “outperform” rating and a $26.00 price objective on the stock.
Brookfield Business Partners Price Performance
Brookfield Business Partners stock opened at $17.23 on Friday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.85 and a current ratio of 1.17. The firm has a market cap of $1.29 billion, a P/E ratio of 19.36 and a beta of 1.34. The business’s fifty day moving average is $18.35 and its two-hundred day moving average is $18.24. Brookfield Business Partners L.P. has a 52 week low of $15.29 and a 52 week high of $26.50.
Brookfield Business Partners (NYSE:BBU – Free Report) last released its earnings results on Friday, May 5th. The business services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.93). The firm had revenue of $13.76 billion for the quarter. Brookfield Business Partners had a return on equity of 3.39% and a net margin of 0.93%. Equities research analysts forecast that Brookfield Business Partners L.P. will post 4.53 earnings per share for the current fiscal year.
Brookfield Business Partners Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.45%. Brookfield Business Partners’s payout ratio is currently 28.09%.
Brookfield Business Partners Profile
(Free Report)
Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.
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