Rathbones Group PLC Purchases New Position in Brookfield Business Partners L.P. $BBU

Rathbones Group PLC purchased a new position in Brookfield Business Partners L.P. (NYSE:BBU) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,237 shares of the business services provider’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BROOKFIELD Corp ON boosted its holdings in shares of Brookfield Business Partners by 72.5% in the 1st quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock worth $1,035,806,000 after purchasing an additional 18,549,503 shares during the period. Triasima Portfolio Management inc. bought a new stake in Brookfield Business Partners in the first quarter worth $3,997,000. Bank of New York Mellon Corp lifted its position in Brookfield Business Partners by 11.7% in the first quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider’s stock worth $465,000 after buying an additional 2,078 shares during the last quarter. AGF Management Ltd. boosted its stake in Brookfield Business Partners by 58.2% during the first quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider’s stock worth $8,030,000 after buying an additional 126,189 shares during the period. Finally, TD Asset Management Inc increased its position in Brookfield Business Partners by 2.7% during the first quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider’s stock valued at $3,625,000 after acquiring an additional 4,032 shares during the last quarter. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Business Partners Stock Performance

Shares of NYSE:BBU opened at $31.25 on Wednesday. The firm’s 50 day simple moving average is $31.90 and its 200-day simple moving average is $27.56. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.20 and a current ratio of 0.28. Brookfield Business Partners L.P. has a one year low of $18.63 and a one year high of $36.90. The firm has a market cap of $2.77 billion, a PE ratio of -17.36 and a beta of 1.39.

Brookfield Business Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be given a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. Brookfield Business Partners’s payout ratio is -13.89%.

Analysts Set New Price Targets

A number of research firms recently commented on BBU. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Business Partners in a research note on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Wall Street Zen cut Brookfield Business Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Desjardins increased their price target on Brookfield Business Partners from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, National Bankshares boosted their price objective on Brookfield Business Partners from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Five analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Brookfield Business Partners presently has a consensus rating of “Hold” and a consensus target price of $36.50.

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.