Credit Industriel ET Commercial Invests $4.91 Million in Brookfield Business Partners L.P. $BBU

Credit Industriel ET Commercial bought a new stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 150,405 shares of the business services provider’s stock, valued at approximately $4,905,000. Credit Industriel ET Commercial owned approximately 0.17% of Brookfield Business Partners at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Rathbones Group PLC purchased a new position in Brookfield Business Partners in the second quarter valued at about $265,000. TD Waterhouse Canada Inc. grew its stake in shares of Brookfield Business Partners by 1.4% in the second quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider’s stock valued at $28,344,000 after buying an additional 14,981 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 worth $934,000 after acquiring an additional 31,135 shares in the last quarter. Legal & General Group Plc purchased a new position in Brookfield Business Partners in the 2nd quarter worth approximately $3,373,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in Brookfield Business Partners in the 2nd quarter worth approximately $391,000. 85.04% of the stock is owned by hedge funds and other institutional investors.

Brookfield Business Partners Trading Down 2.2%

NYSE:BBU opened at $33.93 on Monday. The company has a market cap of $2.97 billion, a PE ratio of -130.51 and a beta of 1.31. The business’s 50 day moving average is $35.55 and its two-hundred day moving average is $32.36. The company has a quick ratio of 0.19, a current ratio of 0.27 and a debt-to-equity ratio of 2.84. Brookfield Business Partners L.P. has a 52 week low of $18.63 and a 52 week high of $37.75.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings data on Friday, January 30th. The business services provider reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($1.86). The firm had revenue of $7 billion for 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%. On average, analysts predict that Brookfield Business Partners L.P. will post 5.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Zacks Research cut shares of Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Business Partners in a research note on Wednesday, January 21st. Scotiabank reissued an “outperform” rating on shares of Brookfield Business Partners in a research report on Monday, February 2nd. National Bank Financial lifted their target price on Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Finally, BMO Capital Markets boosted their price target on Brookfield Business Partners from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Five research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.67.

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.