PCJ Investment Counsel Ltd. Increases Stake in Brookfield Business Partners L.P. (NYSE:BBU)

PCJ Investment Counsel Ltd. lifted its holdings in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 14.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,518,892 shares of the business services provider’s stock after purchasing an additional 188,743 shares during the period. Brookfield Business Partners accounts for about 11.2% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its largest position. PCJ Investment Counsel Ltd.’s holdings in Brookfield Business Partners were worth $35,528,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Intact Investment Management Inc. acquired a new position in shares of Brookfield Business Partners during the third quarter valued at $45,000. Bank of New York Mellon Corp acquired a new position in shares of Brookfield Business Partners during the second quarter valued at $307,000. Gold Investment Management Ltd. lifted its stake in Brookfield Business Partners by 7.4% in the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock valued at $739,000 after buying an additional 2,169 shares during the period. Tandem Capital Management Corp ADV lifted its stake in Brookfield Business Partners by 24.5% in the third quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock valued at $890,000 after buying an additional 7,939 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Brookfield Business Partners by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after buying an additional 608 shares during the period. Institutional investors own 85.04% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 target price on shares of Brookfield Business Partners in a research note on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $31.40.

Brookfield Business Partners Trading Down 0.9 %

NYSE BBU opened at $24.20 on Wednesday. The firm has a market cap of $1.80 billion, a P/E ratio of 3.03 and a beta of 1.45. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.17 and a quick ratio of 0.95. The stock’s 50-day moving average is $23.07 and its 200-day moving average is $20.70. Brookfield Business Partners L.P. has a one year low of $15.00 and a one year high of $25.64.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.39. The company had revenue of $9.23 billion for the quarter. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. During the same period in the prior year, the business earned $1.33 EPS. Sell-side analysts anticipate that Brookfield Business Partners L.P. will post 5.43 earnings per share for the current fiscal year.

Brookfield Business Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.063 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.04%. This is a positive change from Brookfield Business Partners’s previous quarterly dividend of $0.06. Brookfield Business Partners’s dividend payout ratio (DPR) is currently 3.09%.

About Brookfield Business Partners

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.