Intact Investment Management Inc. Takes Position in Brookfield Business Partners L.P. (NYSE:BBU)

Intact Investment Management Inc. acquired a new stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,900 shares of the business services provider’s stock, valued at approximately $45,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can grew its position in Brookfield Business Partners by 3.1% in the second quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock valued at $15,036,000 after acquiring an additional 22,886 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Brookfield Business Partners by 12.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider’s stock valued at $12,910,000 after acquiring an additional 77,017 shares during the period. AYAL Capital Advisors Ltd grew its position in Brookfield Business Partners by 97.4% in the second quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock valued at $848,000 after acquiring an additional 22,200 shares during the period. The Manufacturers Life Insurance Company grew its position 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 acquiring an additional 608 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Brookfield Business Partners in the second quarter valued at $307,000. 85.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Brookfield Business Partners Trading Up 4.0 %

Shares of BBU opened at $23.55 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 2.24. Brookfield Business Partners L.P. has a 12-month low of $14.21 and a 12-month high of $24.96. The firm has a market capitalization of $1.75 billion, a PE ratio of 3.62 and a beta of 1.45. The stock’s fifty day simple moving average is $22.24 and its 200-day simple moving average is $20.36.

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.