Brookfield Business Partners L.P. (NYSE:BBU) Stock Position Raised by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. grew its holdings in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 6.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,618,655 shares of the business services provider’s stock after acquiring an additional 99,763 shares during the period. Brookfield Business Partners accounts for 12.8% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its biggest position. PCJ Investment Counsel Ltd.’s holdings in Brookfield Business Partners were worth $38,041,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in BBU. BBR Partners LLC acquired a new position in shares of Brookfield Business Partners during the fourth quarter worth approximately $241,000. Bank of New York Mellon Corp boosted its position in Brookfield Business Partners by 8.9% during the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider’s stock worth $415,000 after acquiring an additional 1,448 shares during the period. Gold Investment Management Ltd. grew its stake in shares of Brookfield Business Partners by 7.4% in the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock worth $739,000 after purchasing an additional 2,169 shares in the last quarter. Caldwell Investment Management Ltd. acquired a new position in shares of Brookfield Business Partners during the fourth quarter valued at $1,731,000. Finally, National Bank of Canada FI lifted its holdings in Brookfield Business Partners by 20.6% in the third quarter. National Bank of Canada FI now owns 97,584 shares of the business services provider’s stock worth $2,274,000 after purchasing an additional 16,684 shares during the period. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Price Performance

Shares of NYSE BBU opened at $23.24 on Friday. Brookfield Business Partners L.P. has a twelve month low of $16.85 and a twelve month high of $26.75. The company has a current ratio of 0.50, a quick ratio of 0.39 and a debt-to-equity ratio of 2.12. The firm has a 50-day moving average of $23.15 and a two-hundred day moving average of $23.05. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -47.43 and a beta of 1.50.

Brookfield Business Partners (NYSE:BBU) last released its earnings results on Friday, January 31st. The business services provider reported $1.47 EPS for the quarter, beating the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.09%. As a group, analysts expect that Brookfield Business Partners L.P. will post 5.25 earnings per share for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Business Partners’s dividend payout ratio is presently -51.02%.

Wall Street Analyst Weigh In

BBU has been the topic of several research analyst reports. BMO Capital Markets raised their target price on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Scotiabank reiterated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd. Finally, Royal Bank of Canada dropped their target price on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $32.33.

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.