Brookfield Business Partners L.P. (NYSE:BBU – Get Free Report) shares saw an uptick in trading volume on Tuesday . 14,482 shares traded hands during mid-day trading, a decline of 0% from the previous session’s volume of 14,532 shares.The stock last traded at $22.09 and had previously closed at $21.97.
Analyst Ratings Changes
Separately, BMO Capital Markets raised their price objective on Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $32.00.
Check Out Our Latest Stock Report on Brookfield Business Partners
Brookfield Business Partners Price Performance
Brookfield Business Partners (NYSE:BBU – Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.39. The firm had revenue of $9.23 billion during 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 earnings per share. As a group, equities research analysts predict that Brookfield Business Partners L.P. will post 5.43 earnings per share for the current year.
Brookfield Business Partners Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a $0.063 dividend. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.25 annualized dividend and a dividend yield of 1.16%. Brookfield Business Partners’s payout ratio is presently 3.09%.
Hedge Funds Weigh In On Brookfield Business Partners
Several institutional investors and hedge funds have recently added to or reduced their stakes in BBU. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Brookfield Business Partners by 13.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider’s stock valued at $18,145,000 after buying an additional 92,413 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Brookfield Business Partners by 3.1% during the 2nd quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock worth $15,036,000 after purchasing an additional 22,886 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Brookfield Business Partners by 29.9% during the 3rd quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock worth $2,731,000 after purchasing an additional 26,947 shares during the period. Caldwell Investment Management Ltd. purchased a new position in shares of Brookfield Business Partners in the 4th quarter valued at about $1,731,000. Finally, PCJ Investment Counsel Ltd. lifted its stake in shares of Brookfield Business Partners by 14.2% in the third quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider’s stock valued at $35,528,000 after purchasing an additional 188,743 shares during the period. Institutional investors and hedge funds own 85.04% of the company’s stock.
Brookfield Business Partners Company 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.
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