Toronto Dominion Bank Sells 33,325 Shares of Brookfield Business Partners L.P. (BBU)

Toronto Dominion Bank reduced its stake in Brookfield Business Partners L.P. (NYSE:BBU) by 10.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 276,318 shares of the business services provider’s stock after selling 33,325 shares during the period. Toronto Dominion Bank owned approximately 0.26% of Brookfield Business Partners L.P. worth $7,451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CIBC World Markets Inc. purchased a new stake in Brookfield Business Partners L.P. during the second quarter worth about $1,739,000. TD Asset Management Inc. increased its stake in Brookfield Business Partners L.P. by 3.2% during the second quarter. TD Asset Management Inc. now owns 114,662 shares of the business services provider’s stock worth $3,096,000 after purchasing an additional 3,607 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in Brookfield Business Partners L.P. during the second quarter worth about $4,207,000. First Manhattan Co. increased its stake in Brookfield Business Partners L.P. by 20.0% during the second quarter. First Manhattan Co. now owns 79,022 shares of the business services provider’s stock worth $2,133,000 after purchasing an additional 13,153 shares during the period. Finally, Steinberg Global Asset Management increased its stake in Brookfield Business Partners L.P. by 10.4% during the second quarter. Steinberg Global Asset Management now owns 14,494 shares of the business services provider’s stock worth $392,000 after purchasing an additional 1,360 shares during the period. Hedge funds and other institutional investors own 59.35% of the company’s stock.

A number of analysts have issued reports on the stock. Scotiabank boosted their price target on shares of Brookfield Business Partners L.P. from $29.00 to $33.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. Brookfield Business Partners LP boosted their price target on shares of Brookfield Business Partners L.P. to $43.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 16th.

Shares of Brookfield Business Partners L.P. (NYSE BBU) traded up 0.68% during mid-day trading on Friday, reaching $29.42. 9,365 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $29.95 and a 200 day moving average price of $28.05. Brookfield Business Partners L.P. has a 52 week low of $21.72 and a 52 week high of $31.78. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 96.14 and a beta of 1.73.

Brookfield Business Partners L.P. (NYSE:BBU) last announced its earnings results on Tuesday, August 8th. The business services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.15). Brookfield Business Partners L.P. had a return on equity of 1.22% and a net margin of 1.63%. The business had revenue of $4.87 billion for the quarter. Equities research analysts predict that Brookfield Business Partners L.P. will post $1.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a yield of 0.86%. The ex-dividend date was Tuesday, August 29th. This is a boost from Brookfield Business Partners L.P.’s previous quarterly dividend of $0.06.

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Brookfield Business Partners L.P. Company Profile

Institutional Ownership by Quarter for Brookfield Business Partners L.P. (NYSE:BBU)

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