Brookfield Business Partners (NYSE:BBU) Sees Strong Trading Volume

Shares of Brookfield Business Partners L.P. (NYSE:BBU) saw unusually-strong trading volume on Wednesday . Approximately 21,402 shares traded hands during trading, an increase of 29% from the previous session’s volume of 16,638 shares.The stock last traded at $21.71 and had previously closed at $21.62.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BBU shares. TheStreet downgraded Brookfield Business Partners from a “c” rating to a “d+” rating in a research report on Wednesday, March 13th. BMO Capital Markets increased their price target on Brookfield Business Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. National Bankshares increased 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. Desjardins increased their price target on Brookfield Business Partners from $31.00 to $32.00 and gave the company a “buy” rating in a report on Monday, February 5th. Finally, Scotiabank increased their price target on Brookfield Business Partners from $26.50 to $28.00 and gave the company a “sector outperform” rating in a report on Monday, February 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $29.67.

Brookfield Business Partners Stock Down 0.2 %

The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 2.22. The business has a 50-day moving average price of $21.90 and a 200-day moving average price of $18.43. The firm has a market cap of $1.64 billion, a P/E ratio of 3.40 and a beta of 1.41.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings data on Friday, February 2nd. The business services provider reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $5.67. Brookfield Business Partners had a return on equity of 21.74% and a net margin of 6.86%. The company had revenue of $13.41 billion for the quarter. During the same period in the previous year, the business earned $1.49 EPS. On average, equities analysts forecast that Brookfield Business Partners L.P. will post 3.95 EPS for the current fiscal year.

Brookfield Business Partners Announces Dividend

The business also recently disclosed 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 1.13%. The ex-dividend date was Wednesday, February 28th. Brookfield Business Partners’s payout ratio is currently 3.85%.

Insiders Place Their Bets

In other Brookfield Business Partners news, major shareholder Gp Ltd Bcp sold 3,922,786 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $2.20, for a total value of $8,630,129.20. Following the completion of the sale, the insider now owns 23,352,826 shares of the company’s stock, valued at $51,376,217.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On Brookfield Business Partners

Several institutional investors have recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Brookfield Business Partners by 2.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,017 shares of the business services provider’s stock worth $465,000 after purchasing an additional 701 shares during the last quarter. UBS Group AG raised its stake in shares of Brookfield Business Partners by 31.5% in the first quarter. UBS Group AG now owns 6,133 shares of the business services provider’s stock worth $189,000 after purchasing an additional 1,468 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Brookfield Business Partners by 1.2% in the first quarter. Public Sector Pension Investment Board now owns 123,637 shares of the business services provider’s stock worth $2,276,000 after purchasing an additional 1,500 shares during the last quarter. BNP Paribas Arbitrage SNC purchased a new position in shares of Brookfield Business Partners in the second quarter worth about $40,000. Finally, Invesco Ltd. raised its position in Brookfield Business Partners by 2.5% during the third quarter. Invesco Ltd. now owns 237,099 shares of the business services provider’s stock valued at $3,604,000 after acquiring an additional 5,877 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Company 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.