Brookfield Business Partners L.P. (NYSE:BBU) Shares Purchased by Brookfield Corp ON

Brookfield Corp ON grew its holdings in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,602,504 shares of the business services provider’s stock after purchasing an additional 428,511 shares during the quarter. Brookfield Business Partners comprises about 3.4% of Brookfield Corp ON’s investment portfolio, making the stock its 6th biggest position. Brookfield Corp ON owned approximately 0.34% of Brookfield Business Partners worth $596,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Brookfield Business Partners by 13.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider’s stock worth $18,145,000 after purchasing an additional 92,413 shares during the period. Bank of Montreal Can grew its holdings in Brookfield Business Partners by 3.1% in the 2nd quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock valued at $15,036,000 after buying an additional 22,886 shares during the last quarter. Principal Financial Group Inc. increased its position in Brookfield Business Partners by 29.9% in the 3rd quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock worth $2,731,000 after buying an additional 26,947 shares during the period. PCJ Investment Counsel Ltd. lifted its holdings in shares of Brookfield Business Partners by 14.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider’s stock worth $35,528,000 after buying an additional 188,743 shares during the last quarter. Finally, AYAL Capital Advisors Ltd grew its stake in shares of Brookfield Business Partners by 97.4% in the second quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock worth $848,000 after acquiring an additional 22,200 shares during the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Price Performance

NYSE:BBU opened at $24.75 on Friday. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.17 and a quick ratio of 0.95. The stock has a market cap of $1.84 billion, a P/E ratio of 3.06 and a beta of 1.48. The company has a fifty day moving average price of $24.01 and a 200 day moving average price of $21.26. Brookfield Business Partners L.P. has a one year low of $16.65 and a one year high of $26.75.

Brookfield Business Partners (NYSE:BBU) last released its earnings results on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.39. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. The business had revenue of $9.23 billion during the quarter. During the same quarter in the previous year, the business posted $1.33 EPS. Analysts anticipate that Brookfield Business Partners L.P. will post 5.43 earnings per share for the current year.

Brookfield Business Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.063 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.02%. This is a positive change from Brookfield Business Partners’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, November 29th. Brookfield Business Partners’s dividend payout ratio is presently 3.09%.

About Brookfield Business Partners

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.