Caldwell Investment Management Ltd. Purchases New Position in Brookfield Business Partners L.P. (NYSE:BBU)

Caldwell Investment Management Ltd. purchased a new stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 78,700 shares of the business services provider’s stock, valued at approximately $1,731,000. Brookfield Business Partners makes up about 1.2% of Caldwell Investment Management Ltd.’s portfolio, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brookfield Corp ON increased its position in Brookfield Business Partners by 1.7% during the third quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock valued at $596,538,000 after acquiring an additional 428,511 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Brookfield Business Partners by 12,276.3% in the 3rd quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider’s stock worth $6,076,000 after acquiring an additional 258,662 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its holdings in shares of Brookfield Business Partners by 14.2% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider’s stock worth $35,528,000 after acquiring an additional 188,743 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Brookfield Business Partners by 13.6% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider’s stock worth $18,145,000 after acquiring an additional 92,413 shares during the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. lifted its holdings in shares of Brookfield Business Partners by 14.7% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider’s stock worth $15,047,000 after acquiring an additional 82,372 shares during the last quarter. 85.04% of the stock is owned by institutional investors.

Brookfield Business Partners Stock Up 0.5 %

Shares of Brookfield Business Partners stock opened at $22.08 on Wednesday. The firm’s 50 day moving average price is $23.99 and its 200-day moving average price is $22.14. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 2.12. Brookfield Business Partners L.P. has a 52-week low of $16.85 and a 52-week high of $26.75. The company has a market cap of $1.64 billion, a P/E ratio of 2.73 and a beta of 1.50.

Brookfield Business Partners (NYSE:BBU) last released its earnings results on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.39. The company had revenue of $9.23 billion during the quarter. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. During the same quarter last year, the business earned $1.33 earnings per share. On average, sell-side analysts predict that Brookfield Business Partners L.P. will post 5.43 EPS for the current fiscal year.

Brookfield Business Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a yield of 1.14%. This is a boost from Brookfield Business Partners’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Business Partners’s payout ratio is presently 3.09%.

Analyst Ratings Changes

Separately, BMO Capital Markets lifted their price objective on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Brookfield Business Partners has an average rating of “Buy” and a consensus target price of $32.00.

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.