Waratah Capital Advisors Ltd. lifted its stake in Brookfield Business Partners LP (NYSE:BBU) by 15.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,537 shares of the business services provider’s stock after buying an additional 18,500 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Brookfield Business Partners were worth $5,608,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Signition LP boosted its position in shares of Brookfield Business Partners by 93.4% in the fourth quarter. Signition LP now owns 11,800 shares of the business services provider’s stock worth $359,000 after buying an additional 5,700 shares during the period. First Manhattan Co. boosted its position in shares of Brookfield Business Partners by 1.3% in the fourth quarter. First Manhattan Co. now owns 67,706 shares of the business services provider’s stock worth $2,061,000 after buying an additional 840 shares during the period. Steinberg Global Asset Management boosted its position in shares of Brookfield Business Partners by 21.2% in the fourth quarter. Steinberg Global Asset Management now owns 15,181 shares of the business services provider’s stock worth $461,000 after buying an additional 2,655 shares during the period. AGF Investments Inc. purchased a new stake in shares of Brookfield Business Partners in the fourth quarter worth about $1,963,000. Finally, Highstreet Asset Management Inc. purchased a new stake in shares of Brookfield Business Partners in the fourth quarter worth about $544,000. 74.56% of the stock is owned by institutional investors.
Shares of NYSE:BBU traded up $0.14 during trading on Wednesday, hitting $38.94. The company’s stock had a trading volume of 185 shares, compared to its average volume of 13,733. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.86 and a current ratio of 1.14. Brookfield Business Partners LP has a fifty-two week low of $29.82 and a fifty-two week high of $46.55. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 26.71 and a beta of 1.56.
Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.37). Brookfield Business Partners had a return on equity of 17.17% and a net margin of 2.75%. The business had revenue of $9.20 billion during the quarter.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, May 30th.
BBU has been the subject of several analyst reports. Royal Bank of Canada upped their target price on Brookfield Business Partners from $43.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. BMO Capital Markets set a $46.00 target price on Brookfield Business Partners and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Brookfield Business Partners has a consensus rating of “Buy” and a consensus price target of $48.00.
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Brookfield Business Partners Profile
Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.
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