Brookfield Business Partners (NYSE:BBU) Sees Unusually-High Trading Volume After Earnings Beat

Brookfield Business Partners L.P. (NYSE:BBUGet Free Report) shares saw unusually-high trading volume on Monday following a better than expected earnings announcement. Approximately 15,172 shares changed hands during trading, an increase of 4% from the previous session’s volume of 14,643 shares.The stock last traded at $22.81 and had previously closed at $23.06.

The business services provider reported $6.57 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $5.67. Brookfield Business Partners had a return on equity of 21.92% and a net margin of 6.86%. The business had revenue of $13.41 billion during the quarter. During the same quarter in the previous year, the company posted $1.49 earnings per share.

Brookfield Business Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.25 annualized dividend and a yield of 1.09%. Brookfield Business Partners’s dividend payout ratio is currently 3.85%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Scotiabank increased their price objective on Brookfield Business Partners from $26.50 to $28.00 and gave the stock a “sector outperform” rating in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and set a $28.00 target price on shares of Brookfield Business Partners in a report on Monday, November 13th. Desjardins increased their target price on Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday. TheStreet upgraded Brookfield Business Partners from a “d” rating to a “c” rating in a report on Friday. Finally, National Bankshares increased their target price on Brookfield Business Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Brookfield Business Partners currently has an average rating of “Buy” and a consensus target price of $29.67.

Check Out Our Latest Stock Analysis on Brookfield Business Partners

Insider Activity at Brookfield Business Partners

In other Brookfield Business Partners news, major shareholder Gp Ltd Bcp sold 3,922,786 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $2.20, for a total transaction of $8,630,129.20. Following the transaction, the insider now owns 23,352,826 shares in the company, valued at $51,376,217.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 5,732,783 shares of company stock worth $12,598,396 over the last 90 days.

Institutional Investors Weigh In On Brookfield Business Partners

Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SNC acquired a new stake in shares of Brookfield Business Partners during the second quarter worth about $40,000. UBS Group AG raised its position in shares of Brookfield Business Partners by 31.5% during the first quarter. UBS Group AG now owns 6,133 shares of the business services provider’s stock worth $189,000 after purchasing an additional 1,468 shares during the period. Bank of America Corp DE raised its position in shares of Brookfield Business Partners by 365.7% during the first quarter. Bank of America Corp DE now owns 8,163 shares of the business services provider’s stock worth $250,000 after purchasing an additional 6,410 shares during the period. Citadel Advisors LLC acquired a new stake in Brookfield Business Partners in the 2nd quarter valued at approximately $323,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Brookfield Business Partners by 2.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,017 shares of the business services provider’s stock valued at $465,000 after buying an additional 701 shares during the last quarter. Institutional investors and hedge funds own 79.81% of the company’s stock.

Brookfield Business Partners Stock Performance

The stock has a 50-day moving average of $19.57 and a 200-day moving average of $17.00. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 3.49 and a beta of 1.44. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.79 and a current ratio of 1.06.

About Brookfield Business Partners

(Get 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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