Brookfield Business Partners (NYSE:BBU) Sees Large Volume Increase – Here’s Why

Brookfield Business Partners L.P. (NYSE:BBU) shares saw an uptick in trading volume on Wednesday . 27,860 shares changed hands during trading, an increase of 90% from the previous session’s volume of 14,641 shares.The stock last traded at $24.05 and had previously closed at $23.46.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets boosted 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, Scotiabank reiterated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd.

Brookfield Business Partners Stock Performance

The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -48.94 and a beta of 1.50. The firm’s 50 day moving average price is $23.43 and its 200-day moving average price is $23.44. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.50 and a quick ratio of 0.39.

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

Brookfield Business Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were given a $0.0625 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.04%. Brookfield Business Partners’s dividend payout ratio is currently -51.02%.

Institutional Trading of Brookfield Business Partners

Several institutional investors have recently modified their holdings of the company. Intact Investment Management Inc. raised its stake in shares of Brookfield Business Partners by 52.6% in the fourth quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 1,000 shares in the last quarter. BBR Partners LLC bought a new stake in Brookfield Business Partners in the 4th quarter valued at $241,000. Bank of New York Mellon Corp raised its stake in shares of Brookfield Business Partners by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider’s stock valued at $415,000 after buying an additional 1,448 shares in the last quarter. Gold Investment Management Ltd. lifted its holdings in shares of Brookfield Business Partners by 3.2% during the 4th quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider’s stock worth $767,000 after acquiring an additional 1,017 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Brookfield Business Partners by 2.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider’s stock valued at $987,000 after acquiring an additional 1,146 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.