TD Asset Management Inc Increases Position in Brookfield Business Partners L.P. (NYSE:BBU)

TD Asset Management Inc lifted its position in shares of Brookfield Business Partners L.P. (NYSE:BBUFree Report) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,426 shares of the business services provider’s stock after purchasing an additional 6,290 shares during the period. TD Asset Management Inc’s holdings in Brookfield Business Partners were worth $3,328,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Brookfield Business Partners by 77.9% during the third quarter. Principal Financial Group Inc. now owns 65,176 shares of the business services provider’s stock worth $991,000 after purchasing an additional 28,541 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Brookfield Business Partners during the 3rd quarter worth approximately $476,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Brookfield Business Partners by 4.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,300 shares of the business services provider’s stock valued at $2,525,000 after buying an additional 6,700 shares in the last quarter. Scotia Capital Inc. grew its position in shares of Brookfield Business Partners by 19.3% in the 3rd quarter. Scotia Capital Inc. now owns 81,371 shares of the business services provider’s stock valued at $1,229,000 after buying an additional 13,155 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Brookfield Business Partners by 1.5% during the 3rd quarter. Royal Bank of Canada now owns 8,779,849 shares of the business services provider’s stock worth $133,455,000 after acquiring an additional 128,970 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Stock Performance

Shares of BBU stock opened at $18.67 on Friday. Brookfield Business Partners L.P. has a 52-week low of $12.22 and a 52-week high of $23.75. The stock’s 50-day moving average price is $19.46 and its 200 day moving average price is $20.00. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $1.39 billion, a PE ratio of 2.93 and a beta of 1.45.

Brookfield Business Partners (NYSE:BBUGet Free Report) last released its quarterly earnings results on Friday, May 3rd. The business services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.63). Brookfield Business Partners had a return on equity of 21.64% and a net margin of 7.08%. The company had revenue of $12.02 billion for the quarter. As a group, equities research analysts forecast that Brookfield Business Partners L.P. will post 4.16 EPS for the current year.

Brookfield Business Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, May 31st. Brookfield Business Partners’s dividend payout ratio (DPR) is presently 3.92%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BBU. Cibc World Mkts upgraded shares of Brookfield Business Partners to a “strong-buy” rating in a research note on Tuesday, May 7th. Royal Bank of Canada decreased their target price on Brookfield Business Partners from $32.00 to $31.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. BMO Capital Markets lifted their price target on Brookfield Business Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Finally, TheStreet downgraded Brookfield Business Partners from a “c” rating to a “d+” rating in a report on Wednesday, March 13th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $30.33.

Check Out Our Latest Stock Report on Brookfield Business Partners

About Brookfield Business Partners

(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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Institutional Ownership by Quarter for Brookfield Business Partners (NYSE:BBU)

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