Alberta Investment Management Corp Makes New $3.39 Million Investment in Brookfield Business Partners L.P. $BBU

Alberta Investment Management Corp purchased a new stake in Brookfield Business Partners L.P. (NYSE:BBU) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 104,014 shares of the business services provider’s stock, valued at approximately $3,392,000. Alberta Investment Management Corp owned about 0.12% of Brookfield Business Partners at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in Brookfield Business Partners by 30,100.0% during 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 period. Gold Investment Management Ltd. lifted its holdings in shares of Brookfield Business Partners by 5.4% in the third quarter. Gold Investment Management Ltd. now owns 44,270 shares of the business services provider’s stock worth $1,452,000 after buying an additional 2,276 shares in the last quarter. Rathbones Group PLC bought a new position in Brookfield Business Partners in the 2nd quarter valued at $265,000. TD Waterhouse Canada Inc. boosted its position in shares of Brookfield Business Partners by 1.4% during 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, Northwest & Ethical Investments L.P. bought a new position in shares of Brookfield Business Partners in the 2nd quarter worth $391,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Trading Down 0.2%

BBU opened at $35.12 on Friday. 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. The stock has a market cap of $3.08 billion, a PE ratio of -135.06 and a beta of 1.31. The business has a 50 day moving average of $35.48 and a 200-day moving average of $32.55.

Brookfield Business Partners (NYSE:BBU) last announced 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). Brookfield Business Partners had a net margin of 1.41% and a return on equity of 2.67%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $3.46 billion. Equities research analysts predict that Brookfield Business Partners L.P. will post 5.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BBU shares. Royal Bank Of Canada upped their target price on Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Desjardins increased their target price on Brookfield Business Partners from $41.00 to $43.00 and gave the company a “buy” rating in a report on Monday, February 2nd. National Bank Financial lifted their price target on Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Scotiabank reissued an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 2nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.67.

About Brookfield Business Partners

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.