Intact Investment Management Inc. Purchases 1,000 Shares of Brookfield Business Partners L.P. (NYSE:BBU)

Intact Investment Management Inc. boosted its stake in Brookfield Business Partners L.P. (NYSE:BBU) by 52.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,900 shares of the business services provider’s stock after purchasing an additional 1,000 shares during the period. Intact Investment Management Inc.’s holdings in Brookfield Business Partners were worth $68,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BBU. Principal Financial Group Inc. lifted its stake in Brookfield Business Partners by 29.9% in the 3rd quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock valued at $2,731,000 after purchasing an additional 26,947 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its stake in Brookfield Business Partners by 14.2% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider’s stock valued at $35,528,000 after purchasing an additional 188,743 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in Brookfield Business Partners by 14.7% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider’s stock valued at $15,047,000 after purchasing an additional 82,372 shares during the last quarter. Bank of Montreal Can lifted its stake in Brookfield Business Partners by 8.7% in the 3rd quarter. Bank of Montreal Can now owns 834,512 shares of the business services provider’s stock valued at $20,193,000 after purchasing an additional 66,786 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Brookfield Business Partners by 13.6% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider’s stock valued at $18,145,000 after purchasing an additional 92,413 shares during the last quarter. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Price Performance

BBU stock opened at $22.40 on Friday. Brookfield Business Partners L.P. has a 52-week low of $16.85 and a 52-week high of $26.75. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.39 and a current ratio of 0.50. The company has a fifty day moving average price of $23.03 and a 200-day moving average price of $23.12. The company has a market capitalization of $1.66 billion, a P/E ratio of -45.71 and a beta of 1.50.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 earnings per share for the quarter, topping 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, equities analysts expect that Brookfield Business Partners L.P. will post 5.25 EPS for the current year.

Brookfield Business Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Friday, February 28th. Brookfield Business Partners’s dividend payout ratio (DPR) is presently -51.02%.

Wall Street Analysts Forecast Growth

BBU has been the subject of several research reports. Scotiabank reissued an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd. BMO Capital Markets raised their price target 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. Finally, Royal Bank of Canada dropped their price target on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd.

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.