Gold Investment Management Ltd. Purchases 6,791 Shares of Brookfield Business Partners L.P. (NYSE:BBU)

Gold Investment Management Ltd. lifted its position in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 20.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,309 shares of the business services provider’s stock after buying an additional 6,791 shares during the quarter. Gold Investment Management Ltd.’s holdings in Brookfield Business Partners were worth $921,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AGF Management Ltd. purchased a new position in Brookfield Business Partners during the 4th quarter valued at $5,111,000. Forge First Asset Management Inc. grew its stake in shares of Brookfield Business Partners by 48.3% during the fourth quarter. Forge First Asset Management Inc. now owns 532,964 shares of the business services provider’s stock worth $12,538,000 after acquiring an additional 173,500 shares during the last quarter. NewGen Asset Management Ltd purchased a new stake in Brookfield Business Partners in the 4th quarter worth approximately $2,356,000. PCJ Investment Counsel Ltd. increased its stake in shares of Brookfield Business Partners by 6.6% in the 4th quarter. PCJ Investment Counsel Ltd. now owns 1,618,655 shares of the business services provider’s stock worth $38,041,000 after acquiring an additional 99,763 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Brookfield Business Partners by 11.3% in the 4th quarter. Bank of Montreal Can now owns 928,564 shares of the business services provider’s stock valued at $21,871,000 after purchasing an additional 94,052 shares in the last quarter. 85.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on BBU shares. CIBC cut their price target on shares of Brookfield Business Partners from $34.00 to $30.00 and set an “outperformer” rating on the stock in a report on Monday, April 28th. National Bankshares dropped their price objective on shares of Brookfield Business Partners from $36.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Royal Bank Of Canada started coverage on shares of Brookfield Business Partners in a research report on Wednesday, June 18th. They set an “outperform” rating and a $33.00 price objective on the stock. Finally, Scotiabank reduced their target price on shares of Brookfield Business Partners from $33.00 to $29.00 and set a “sector outperform” rating for the company in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $31.60.

Brookfield Business Partners Stock Performance

BBU opened at $25.26 on Friday. Brookfield Business Partners L.P. has a 1 year low of $17.87 and a 1 year high of $26.96. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.48 and a quick ratio of 1.21. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -74.28 and a beta of 1.32. The business’s 50-day moving average price is $24.11 and its two-hundred day moving average price is $23.25.

Brookfield Business Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.25 annualized dividend and a dividend yield of 0.99%. Brookfield Business Partners’s dividend payout ratio is currently -73.53%.

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.