Tandem Capital Management Corp ADV Has $893,000 Position in Brookfield Business Partners L.P. (NYSE:BBU)

Tandem Capital Management Corp ADV lowered its holdings in Brookfield Business Partners L.P. (NYSE:BBU) by 2.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 43,381 shares of the business services provider’s stock after selling 1,240 shares during the period. Tandem Capital Management Corp ADV’s holdings in Brookfield Business Partners were worth $893,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Bank of Canada FI lifted its stake in Brookfield Business Partners by 22.6% in the 3rd quarter. National Bank of Canada FI now owns 86,283 shares of the business services provider’s stock worth $1,265,000 after acquiring an additional 15,893 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in shares of Brookfield Business Partners by 3.9% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 304,114 shares of the business services provider’s stock valued at $4,427,000 after purchasing an additional 11,304 shares during the period. Principal Financial Group Inc. lifted its position in shares of Brookfield Business Partners by 77.9% in the third quarter. Principal Financial Group Inc. now owns 65,176 shares of the business services provider’s stock worth $991,000 after purchasing an additional 28,541 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Brookfield Business Partners during the third quarter worth approximately $476,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Brookfield Business Partners by 4.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,300 shares of the business services provider’s stock valued at $2,525,000 after purchasing an additional 6,700 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Stock Performance

BBU stock traded down $0.58 during mid-day trading on Thursday, reaching $19.00. 6,167 shares of the stock traded hands, compared to its average volume of 15,418. The firm has a market capitalization of $1.41 billion, a PE ratio of 3.02 and a beta of 1.41. The business has a 50-day moving average of $21.17 and a two-hundred day moving average of $19.07. Brookfield Business Partners L.P. has a 52 week low of $12.22 and a 52 week high of $23.75. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 2.22.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, February 2nd. The business services provider reported $6.57 earnings per share for the quarter, topping the consensus estimate of $0.90 by $5.67. The business had revenue of $13.41 billion during the quarter. Brookfield Business Partners had a return on equity of 21.74% and a net margin of 6.86%. During the same period in the prior year, the firm posted $1.49 EPS. As a group, equities analysts predict that Brookfield Business Partners L.P. will post 3.95 EPS for the current fiscal year.

Brookfield Business Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, February 29th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Wednesday, February 28th. Brookfield Business Partners’s dividend payout ratio (DPR) is presently 3.85%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Desjardins lifted their target price on shares of Brookfield Business Partners from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, February 5th. BMO Capital Markets upped their target price on Brookfield Business Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. National Bankshares lifted their price target on Brookfield Business Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Scotiabank raised their price objective on shares of Brookfield Business Partners from $26.50 to $28.00 and gave the company a “sector outperform” rating in a research report on Monday, February 5th. Finally, TheStreet downgraded shares of Brookfield Business Partners from a “c” rating to a “d+” rating in a research report on Wednesday, March 13th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $29.67.

Brookfield Business Partners 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.