Rathbones Group PLC Takes Position in Brookfield Business Partners L.P. $BBU

Rathbones Group PLC purchased a new position in Brookfield Business Partners L.P. (NYSE:BBU) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 10,237 shares of the business services provider’s stock, valued at approximately $265,000.

Other institutional investors also recently bought and sold shares of the company. Gold Investment Management Ltd. raised its stake in Brookfield Business Partners by 6.8% in the second quarter. Gold Investment Management Ltd. now owns 41,994 shares of the business services provider’s stock worth $1,092,000 after buying an additional 2,685 shares in the last quarter. BROOKFIELD Corp ON raised its position in shares of Brookfield Business Partners by 72.5% in the 1st quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock worth $1,035,806,000 after acquiring an additional 18,549,503 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in shares of Brookfield Business Partners by 6.2% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 104,106 shares of the business services provider’s stock worth $2,439,000 after purchasing an additional 6,090 shares during the last quarter. AGF Management Ltd. lifted its stake in shares of Brookfield Business Partners by 58.2% during the 1st quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider’s stock worth $8,030,000 after purchasing an additional 126,189 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Brookfield Business Partners by 2.7% during the first quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider’s stock valued at $3,625,000 after purchasing an additional 4,032 shares in the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.

Brookfield Business Partners Trading Down 1.2%

NYSE BBU opened at $31.25 on Wednesday. Brookfield Business Partners L.P. has a 12-month low of $18.63 and a 12-month high of $36.90. The company has a fifty day simple moving average of $31.90 and a two-hundred day simple moving average of $27.56. The company has a current ratio of 0.28, a quick ratio of 0.20 and a debt-to-equity ratio of 2.90. The stock has a market cap of $2.77 billion, a P/E ratio of -17.36 and a beta of 1.39.

Brookfield Business Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. Brookfield Business Partners’s payout ratio is currently -13.89%.

Analysts Set New Price Targets

A number of equities analysts have commented on BBU shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Brookfield Business Partners from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Royal Bank Of Canada upped their price target on Brookfield Business Partners from $35.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. Desjardins raised their price objective on Brookfield Business Partners from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Scotiabank set a $39.00 target price on Brookfield Business Partners and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.50.

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.