TD Asset Management Inc Has $2.80 Million Stock Holdings in Brookfield Business Partners L.P. (NYSE:BBU)

TD Asset Management Inc decreased its stake in Brookfield Business Partners L.P. (NYSE:BBU) by 41.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 147,859 shares of the business services provider’s stock after selling 104,114 shares during the quarter. TD Asset Management Inc’s holdings in Brookfield Business Partners were worth $2,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BBU. K2 Principal Fund L.P. bought a new position in shares of Brookfield Business Partners in the 4th quarter valued at $2,033,000. Partners Value Investments L.P. increased its holdings in Brookfield Business Partners by 0.7% in the 4th quarter. Partners Value Investments L.P. now owns 2,941,062 shares of the business services provider’s stock worth $60,527,000 after purchasing an additional 19,061 shares in the last quarter. Montrusco Bolton Investments Inc. raised its position in Brookfield Business Partners by 54.3% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 59,354 shares of the business services provider’s stock valued at $1,231,000 after purchasing an additional 20,891 shares during the last quarter. Gold Investment Management Ltd. acquired a new stake in shares of Brookfield Business Partners during the fourth quarter valued at about $618,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Brookfield Business Partners by 44.1% during the fourth quarter. Russell Investments Group Ltd. now owns 50,102 shares of the business services provider’s stock valued at $1,039,000 after purchasing an additional 15,344 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Price Performance

BBU stock opened at $20.56 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 2.24. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 3.22 and a beta of 1.45. The company’s fifty day simple moving average is $19.98 and its 200 day simple moving average is $19.87. Brookfield Business Partners L.P. has a 12-month low of $12.22 and a 12-month high of $23.75.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings data on Friday, August 2nd. The business services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.95). The company had revenue of $11.95 billion for the quarter. Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. During the same quarter in the prior year, the company earned $0.85 EPS. On average, analysts expect that Brookfield Business Partners L.P. will post 4.52 earnings per share for the current year.

Brookfield Business Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Business Partners’s dividend payout ratio is currently 3.92%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price objective on shares of Brookfield Business Partners in a report on Monday, August 5th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $31.40.

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.