Tandem Capital Management Corp ADV Trims Stake in Brookfield Business Partners L.P. (NYSE:BBU)

Tandem Capital Management Corp ADV decreased its stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,381 shares of the business services provider’s stock after selling 1,240 shares during the period. Tandem Capital Management Corp ADV owned 0.06% of Brookfield Business Partners worth $893,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Royal Bank of Canada increased its position in Brookfield Business Partners by 1.5% during the 3rd quarter. Royal Bank of Canada now owns 8,779,849 shares of the business services provider’s stock worth $133,455,000 after purchasing an additional 128,970 shares in the last quarter. Scotia Capital Inc. lifted its stake in shares of Brookfield Business Partners by 19.3% during the 3rd quarter. Scotia Capital Inc. now owns 81,371 shares of the business services provider’s stock worth $1,229,000 after purchasing an additional 13,155 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Brookfield Business Partners by 4.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,300 shares of the business services provider’s stock worth $2,525,000 after buying an additional 6,700 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Brookfield Business Partners in the third quarter worth approximately $476,000. Finally, Principal Financial Group Inc. increased its position in Brookfield Business Partners by 77.9% during the third quarter. Principal Financial Group Inc. now owns 65,176 shares of the business services provider’s stock worth $991,000 after purchasing an additional 28,541 shares during the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

Brookfield Business Partners Stock Down 3.0 %

NYSE:BBU traded down $0.58 during trading hours on Thursday, hitting $19.00. The stock had a trading volume of 6,167 shares, compared to its average volume of 15,418. The business has a 50 day simple moving average of $21.17 and a two-hundred day simple moving average of $19.07. Brookfield Business Partners L.P. has a 1-year low of $12.22 and a 1-year high of $23.75. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 2.22. The company has a market cap of $1.41 billion, a PE ratio of 3.02 and a beta of 1.41.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings results on Friday, February 2nd. The business services provider reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $5.67. The firm had revenue of $13.41 billion for the quarter. Brookfield Business Partners had a net margin of 6.86% and a return on equity of 21.74%. During the same period last year, the firm earned $1.49 EPS. Analysts predict that Brookfield Business Partners L.P. will post 3.95 EPS for the current year.

Brookfield Business Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Wednesday, February 28th. Brookfield Business Partners’s dividend payout ratio (DPR) is 3.85%.

Wall Street Analyst Weigh In

BBU has been the subject of a number of research analyst reports. Desjardins upped their price objective on Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, February 5th. TheStreet downgraded shares of Brookfield Business Partners from a “c” rating to a “d+” rating in a research report on Wednesday, March 13th. National Bankshares lifted their price target on shares of Brookfield Business Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Scotiabank boosted their price objective on shares of Brookfield Business Partners from $26.50 to $28.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 5th. Finally, BMO Capital Markets raised their target price on shares of Brookfield Business Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $29.67.

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.