Brookfield Business Partners L.P. (NYSE:BBU) Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. reduced its position in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 734,790 shares of the business services provider’s stock after selling 71,750 shares during the period. Beutel Goodman & Co Ltd. owned approximately 0.99% of Brookfield Business Partners worth $17,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Gold Investment Management Ltd. boosted its position in shares of Brookfield Business Partners by 3.2% in the fourth quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider’s stock worth $767,000 after buying an additional 1,017 shares during the period. Intact Investment Management Inc. boosted its holdings in shares of Brookfield Business Partners by 52.6% during the 4th quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider’s stock worth $68,000 after buying an additional 1,000 shares during the period. Forge First Asset Management Inc. lifted its position in shares of Brookfield Business Partners by 48.3% during the 4th quarter. Forge First Asset Management Inc. now owns 532,964 shares of the business services provider’s stock worth $12,538,000 after purchasing an additional 173,500 shares during the last quarter. AGF Management Ltd. acquired a new position in shares of Brookfield Business Partners during the fourth quarter worth approximately $5,111,000. Finally, PCJ Investment Counsel Ltd. grew its position in Brookfield Business Partners by 6.6% in the 4th quarter. PCJ Investment Counsel Ltd. now owns 1,618,655 shares of the business services provider’s stock worth $38,041,000 after purchasing an additional 99,763 shares during the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BBU has been the subject of several recent research reports. Scotiabank reissued an “outperform” rating on shares of Brookfield Business Partners in a research report on Monday, February 3rd. BMO Capital Markets upped their target price on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Royal Bank of Canada cut their target price on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd.

Brookfield Business Partners Price Performance

Shares of NYSE BBU opened at $23.90 on Friday. The company has a fifty day moving average price of $23.34 and a 200 day moving average price of $23.36. Brookfield Business Partners L.P. has a 1-year low of $16.85 and a 1-year high of $26.75. The firm has a market cap of $2.17 billion, a PE ratio of -48.76 and a beta of 1.50. The company has a current ratio of 0.50, a quick ratio of 0.39 and a debt-to-equity ratio of 2.12.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 earnings per share for the quarter, topping the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.09% and a net margin of 2.20%. Research analysts predict that Brookfield Business Partners L.P. will post 5.25 earnings per share for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Friday, February 28th. Brookfield Business Partners’s dividend payout ratio is presently -51.02%.

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.