1832 Asset Management L.P. Has $23.20 Million Stake in Brookfield Business Partners L.P. (NYSE:BBU)

1832 Asset Management L.P. decreased its position in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,049,815 shares of the business services provider’s stock after selling 5,903 shares during the period. 1832 Asset Management L.P. owned 1.41% of Brookfield Business Partners worth $23,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gold Investment Management Ltd. bought a new stake in Brookfield Business Partners in the fourth quarter valued at about $618,000. Russell Investments Group Ltd. lifted its position in shares of Brookfield Business Partners by 44.1% during the fourth quarter. Russell Investments Group Ltd. now owns 50,102 shares of the business services provider’s stock worth $1,039,000 after purchasing an additional 15,344 shares in the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in Brookfield Business Partners by 54.3% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 59,354 shares of the business services provider’s stock valued at $1,231,000 after buying an additional 20,891 shares during the period. Triasima Portfolio Management inc. acquired a new position in Brookfield Business Partners in the first quarter valued at approximately $1,405,000. Finally, Principal Financial Group Inc. increased its position in shares of Brookfield Business Partners by 35.7% during the first quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock worth $1,954,000 after acquiring an additional 23,258 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 NYSE BBU traded up $0.11 during mid-day trading on Friday, reaching $20.40. 4,102 shares of the company were exchanged, compared to its average volume of 14,674. The company’s 50-day simple moving average is $19.03 and its 200-day simple moving average is $20.25. 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 $1.52 billion, a P/E ratio of 3.20 and a beta of 1.47. Brookfield Business Partners L.P. has a twelve month low of $12.22 and a twelve month high of $23.75.

Brookfield Business Partners (NYSE:BBU) last posted its earnings results on Friday, May 3rd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Brookfield Business Partners L.P. will post 4.16 earnings per share for the current year.

Brookfield Business Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, May 31st. Brookfield Business Partners’s dividend payout ratio is currently 3.92%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BBU. Royal Bank of Canada lowered their price objective on shares of 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. Cibc World Mkts raised shares of Brookfield Business Partners to a “strong-buy” rating in a research report on Tuesday, May 7th. Finally, BMO Capital Markets increased their price objective on shares of Brookfield Business Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Business Partners currently has an average rating of “Buy” and a consensus target price of $30.33.

Brookfield Business Partners Profile

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.