TD Waterhouse Canada Inc. Sells 26,818 Shares of Brookfield Business Partners L.P. $BBU

TD Waterhouse Canada Inc. lowered its stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 2.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,092,963 shares of the business services provider’s stock after selling 26,818 shares during the period. TD Waterhouse Canada Inc.’s holdings in Brookfield Business Partners were worth $37,494,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BBU. JPMorgan Chase & Co. lifted its stake in shares of Brookfield Business Partners by 636.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 36,027 shares of the business services provider’s stock worth $934,000 after purchasing an additional 31,135 shares during the period. Bank of America Corp DE lifted its stake in shares of Brookfield Business Partners by 30,100.0% in the 2nd quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock worth $31,000 after purchasing an additional 1,204 shares during the period. Gold Investment Management Ltd. lifted its stake in shares of Brookfield Business Partners by 5.4% in the 3rd quarter. Gold Investment Management Ltd. now owns 44,270 shares of the business services provider’s stock worth $1,452,000 after purchasing an additional 2,276 shares during the period. Credit Industriel ET Commercial bought a new position in shares of Brookfield Business Partners in the 3rd quarter worth approximately $4,905,000. Finally, Alberta Investment Management Corp bought a new position in shares of Brookfield Business Partners in the 3rd quarter worth approximately $3,392,000. Institutional investors own 85.04% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on BBU. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, January 21st. BMO Capital Markets increased their target price on shares of Brookfield Business Partners from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. National Bank Financial increased their target price on shares of Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Desjardins increased their target price on shares of Brookfield Business Partners from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Finally, Canadian Imperial Bank of Commerce began coverage on shares of Brookfield Business Partners in a report on Friday, February 27th. They issued a “sector outperform” rating and a $44.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Brookfield Business Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Brookfield Business Partners Stock Performance

Brookfield Business Partners stock opened at $31.46 on Monday. The stock has a market cap of $2.76 billion, a P/E ratio of -121.00 and a beta of 1.30. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.27 and a quick ratio of 0.19. Brookfield Business Partners L.P. has a 1 year low of $18.63 and a 1 year high of $37.75. The firm’s 50 day moving average price is $32.79 and its 200-day moving average price is $34.00.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings data on Friday, January 30th. The business services provider reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($1.86). The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $3.46 billion. Brookfield Business Partners had a net margin of 1.41% and a return on equity of 2.67%. On average, equities analysts predict that Brookfield Business Partners L.P. will post 5.25 earnings per share for the current fiscal year.

Brookfield Business Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a dividend of $0.0625 per share. The ex-dividend date was Monday, March 23rd. This represents a $0.25 annualized dividend and a dividend yield of 0.8%. Brookfield Business Partners’s dividend payout ratio (DPR) is presently -96.15%.

About Brookfield Business Partners

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.