Northern Trust Corp Purchases 2,991 Shares of Brookfield Business Partners LP (BBU)

Northern Trust Corp grew its stake in Brookfield Business Partners LP (NYSE:BBU) by 13.3% in the second quarter, Holdings Channel reports. The fund owned 25,548 shares of the business services provider’s stock after acquiring an additional 2,991 shares during the period. Northern Trust Corp’s holdings in Brookfield Business Partners were worth $977,000 at the end of the most recent quarter.

Separately, CIBC World Markets Inc. increased its stake in Brookfield Business Partners by 32.9% during the 2nd quarter. CIBC World Markets Inc. now owns 254,999 shares of the business services provider’s stock valued at $9,756,000 after buying an additional 63,181 shares during the period. Hedge funds and other institutional investors own 75.32% of the company’s stock.

NYSE:BBU opened at $36.70 on Thursday. Brookfield Business Partners LP has a twelve month low of $30.64 and a twelve month high of $46.55. The company has a current ratio of 1.15, a quick ratio of 0.95 and a debt-to-equity ratio of 1.50.



The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, November 30th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.25 annualized dividend and a dividend yield of 0.68%.

BBU has been the topic of several research analyst reports. Credit Suisse Group set a $54.00 target price on shares of Brookfield Business Partners and gave the company a “buy” rating in a research note on Thursday, August 23rd. Scotiabank initiated coverage on shares of Brookfield Business Partners in a research note on Wednesday, September 19th. They set a “hold” rating and a $49.00 target price on the stock. Royal Bank of Canada set a $48.00 target price on shares of Brookfield Business Partners and gave the company a “buy” rating in a research note on Thursday, September 27th. ValuEngine cut shares of Brookfield Business Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, BMO Capital Markets initiated coverage on shares of Brookfield Business Partners in a research note on Tuesday, November 20th. They set an “outperform” rating and a $47.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $48.40.

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About Brookfield Business Partners

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

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