Brookfield Business Partners L.P. (NYSE:BBU) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,724 shares of the business services provider’s stock after acquiring an additional 1,448 shares during the quarter. Bank of New York Mellon Corp’s holdings in Brookfield Business Partners were worth $415,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caldwell Investment Management Ltd. acquired a new position in Brookfield Business Partners during the fourth quarter valued at $1,731,000. Principal Financial Group Inc. lifted its holdings in shares of 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 buying an additional 26,947 shares during the period. Toronto Dominion Bank boosted its stake in shares of Brookfield Business Partners by 12,276.3% in the third quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider’s stock worth $6,076,000 after buying an additional 258,662 shares during the last quarter. National Bank of Canada FI grew its holdings in Brookfield Business Partners by 20.6% during 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 acquiring an additional 16,684 shares during the period. Finally, Brookfield Corp ON raised its position in Brookfield Business Partners by 1.7% during the third quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock valued at $596,538,000 after acquiring an additional 428,511 shares in the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.

Brookfield Business Partners Stock Performance

Shares of Brookfield Business Partners stock opened at $23.90 on Friday. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -48.76 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.50 and a quick ratio of 0.39. The business has a 50-day moving average of $23.34 and a 200 day moving average of $23.36. Brookfield Business Partners L.P. has a 12 month low of $16.85 and a 12 month high of $26.75.

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

Brookfield Business Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Business Partners’s dividend payout ratio (DPR) is -51.02%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Royal Bank of Canada dropped their price objective 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. Scotiabank reissued an “outperform” rating on shares of Brookfield Business Partners in a report on Monday, February 3rd. Finally, BMO Capital Markets increased their price objective on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, January 10th.

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.