Bank of Montreal Can Grows Stake in Brookfield Business Partners L.P. (NYSE:BBU)

Bank of Montreal Can increased its holdings in Brookfield Business Partners L.P. (NYSE:BBU) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 928,564 shares of the business services provider’s stock after purchasing an additional 94,052 shares during the period. Bank of Montreal Can’s holdings in Brookfield Business Partners were worth $21,871,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Intact Investment Management Inc. raised its position in shares of Brookfield Business Partners by 52.6% during the fourth quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider’s stock valued at $68,000 after buying an additional 1,000 shares during the last quarter. BBR Partners LLC bought a new position in shares of Brookfield Business Partners during the fourth quarter worth $241,000. Bank of New York Mellon Corp grew its stake in Brookfield Business Partners by 8.9% during the fourth quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider’s stock valued at $415,000 after acquiring an additional 1,448 shares in the last quarter. Gold Investment Management Ltd. increased its holdings in Brookfield Business Partners by 3.2% in the 4th quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider’s stock valued at $767,000 after acquiring an additional 1,017 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Brookfield Business Partners by 64.7% in the 4th quarter. Russell Investments Group Ltd. now owns 63,017 shares of the business services provider’s stock worth $1,485,000 after purchasing an additional 24,755 shares in the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.

Brookfield Business Partners Stock Performance

Shares of NYSE:BBU opened at $20.34 on Friday. The firm has a fifty day simple moving average of $23.27 and a two-hundred day simple moving average of $23.33. The company has a quick ratio of 0.39, a current ratio of 0.50 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $1.85 billion, a P/E ratio of -41.51 and a beta of 1.34. Brookfield Business Partners L.P. has a 52 week low of $16.85 and a 52 week high of $26.75.

Brookfield Business Partners (NYSE:BBU) last issued 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%. On average, analysts expect that Brookfield Business Partners L.P. will post 5.25 earnings per share for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a dividend of $0.0625 per share. The ex-dividend date was Friday, February 28th. This represents a $0.25 annualized dividend and a yield of 1.23%. Brookfield Business Partners’s payout ratio is presently -51.02%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. BMO Capital Markets raised their price objective on Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Scotiabank reissued an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reduced their price objective on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd.

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.