Credit Industriel ET Commercial Takes Position in Brookfield Business Partners L.P. $BBU

Credit Industriel ET Commercial purchased a new position in Brookfield Business Partners L.P. (NYSE:BBU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 150,405 shares of the business services provider’s stock, valued at approximately $4,905,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in Brookfield Business Partners by 30,100.0% in the second quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock valued at $31,000 after buying an additional 1,204 shares during the last quarter. Rathbones Group PLC acquired a new stake in shares of Brookfield Business Partners in the 2nd quarter worth about $265,000. Northwest & Ethical Investments L.P. bought a new stake in Brookfield Business Partners in the 2nd quarter valued at about $391,000. JPMorgan Chase & Co. boosted its stake in Brookfield Business Partners by 636.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 36,027 shares of the business services provider’s stock valued at $934,000 after purchasing an additional 31,135 shares during the period. Finally, Gold Investment Management Ltd. boosted its stake in Brookfield Business Partners by 5.4% during the 3rd quarter. Gold Investment Management Ltd. now owns 44,270 shares of the business services provider’s stock valued at $1,452,000 after purchasing an additional 2,276 shares during the period. 85.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BBU. Zacks Research downgraded Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Scotiabank reaffirmed an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Business Partners in a research note on Wednesday, January 21st. Royal Bank Of Canada lifted their price objective on shares of Brookfield Business Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Finally, National Bank Financial upped their price objective 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. Five analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.67.

Brookfield Business Partners Stock Performance

NYSE:BBU opened at $33.93 on Monday. The company has a 50-day moving average of $35.55 and a 200-day moving average of $32.36. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -130.51 and a beta of 1.31. The company has a current ratio of 0.27, a quick ratio of 0.19 and a debt-to-equity ratio of 2.84. Brookfield Business Partners L.P. has a twelve month low of $18.63 and a twelve month high of $37.75.

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

Brookfield Business Partners Company Profile

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.