Invesco Ltd. boosted its holdings in Brookfield Business Partners LP (NYSE:BBU) by 7.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 134,171 shares of the business services provider’s stock after purchasing an additional 9,389 shares during the period. Invesco Ltd. owned about 0.17% of Brookfield Business Partners worth $5,140,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Scotia Capital Inc. boosted its holdings in Brookfield Business Partners by 61.6% in the second quarter. Scotia Capital Inc. now owns 374,321 shares of the business services provider’s stock valued at $14,496,000 after purchasing an additional 142,687 shares during the last quarter. Toronto Dominion Bank raised its stake in Brookfield Business Partners by 76.3% during the second quarter. Toronto Dominion Bank now owns 317,434 shares of the business services provider’s stock valued at $12,074,000 after buying an additional 137,411 shares in the last quarter. Fiera Capital Corp raised its stake in Brookfield Business Partners by 19.5% during the second quarter. Fiera Capital Corp now owns 286,035 shares of the business services provider’s stock valued at $11,139,000 after buying an additional 46,644 shares in the last quarter. Fosun International Ltd raised its stake in Brookfield Business Partners by 76.2% during the second quarter. Fosun International Ltd now owns 85,530 shares of the business services provider’s stock valued at $4,715,000 after buying an additional 37,000 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in Brookfield Business Partners by 76.1% during the second quarter. OMERS ADMINISTRATION Corp now owns 11,747,000 shares of the business services provider’s stock valued at $456,136,000 after buying an additional 5,077,000 shares in the last quarter. 74.25% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE BBU opened at $38.79 on Friday. The stock’s 50 day moving average price is $36.57 and its two-hundred day moving average price is $37.85. Brookfield Business Partners LP has a 52-week low of $29.82 and a 52-week high of $44.66. The stock has a market capitalization of $3.12 billion, a P/E ratio of 29.16 and a beta of 1.47. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 2.25.
Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.67). Brookfield Business Partners had a net margin of 2.11% and a return on equity of 10.89%. The firm had revenue of $10.72 billion for the quarter.
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 30th were given a dividend of $0.063 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.65%. This is a boost from Brookfield Business Partners’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, August 29th.
BBU has been the topic of several research reports. TheStreet upgraded Brookfield Business Partners from a “d” rating to a “c-” rating in a research note on Wednesday, July 31st. Royal Bank of Canada upped their price objective on Brookfield Business Partners from $45.00 to $47.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 2nd. Finally, Credit Suisse Group initiated coverage on Brookfield Business Partners in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $48.00 price objective on the stock. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $47.00.
Brookfield Business Partners Profile
Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.
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