Brookfield Business Partners L.P. $BBU Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. decreased its position in Brookfield Business Partners L.P. (NYSE:BBU) by 3.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 660,130 shares of the business services provider’s stock after selling 23,050 shares during the period. Beutel Goodman & Co Ltd. owned approximately 0.74% of Brookfield Business Partners worth $17,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. purchased a new position in shares of Brookfield Business Partners in the second quarter worth about $391,000. Legal & General Group Plc purchased a new position in Brookfield Business Partners during the 2nd quarter worth approximately $3,373,000. JPMorgan Chase & Co. lifted 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 acquiring an additional 31,135 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in shares of Brookfield Business Partners by 1.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider’s stock valued at $28,344,000 after acquiring an additional 14,981 shares during the last quarter. Finally, Rathbones Group PLC purchased a new stake in shares of Brookfield Business Partners in the 2nd quarter valued at $265,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Scotiabank set a $39.00 price objective on Brookfield Business Partners and gave the company an “outperform” rating in a report on Thursday, October 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Business Partners in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their price target on Brookfield Business Partners from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Finally, National Bankshares boosted their price target 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 research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

Brookfield Business Partners Stock Performance

Shares of BBU stock opened at $36.38 on Friday. The company has a market capitalization of $3.23 billion, a P/E ratio of -20.21 and a beta of 1.32. Brookfield Business Partners L.P. has a 12-month low of $18.63 and a 12-month high of $36.90. The business’s 50 day moving average is $33.71 and its two-hundred day moving average is $28.69. The company has a current ratio of 1.71, a quick ratio of 1.41 and a debt-to-equity ratio of 2.84.

Brookfield Business Partners Dividend Announcement

The business also recently disclosed 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 is Friday, November 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.7%. Brookfield Business Partners’s dividend payout ratio is currently -13.89%.

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.