Brookfield Business Partners (NYSE:BBU) Shares Gap Down – Time to Sell?

Brookfield Business Partners L.P. (NYSE:BBU)’s share price gapped down prior to trading on Monday . The stock had previously closed at $34.46, but opened at $33.30. Brookfield Business Partners shares last traded at $34.5320, with a volume of 4,765 shares traded.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BBU. Royal Bank Of Canada raised their target price on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. National Bankshares raised their price target on shares of Brookfield Business Partners from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Scotiabank set a $39.00 price objective on shares of Brookfield Business Partners and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Zacks Research upgraded shares of Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Brookfield Business Partners Price Performance

The stock has a market cap of $3.08 billion, a PE ratio of -19.52 and a beta of 1.31. The business has a fifty day simple moving average of $34.37 and a two-hundred day simple moving average of $30.65. The company has a current ratio of 1.71, a quick ratio of 1.41 and a debt-to-equity ratio of 2.84.

Brookfield Business Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were issued a $0.0625 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.7%. Brookfield Business Partners’s dividend payout ratio is -13.89%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BBU. Picton Mahoney Asset Management boosted its stake in Brookfield Business Partners by 74.4% during the third quarter. Picton Mahoney Asset Management now owns 696,679 shares of the business services provider’s stock worth $22,849,000 after acquiring an additional 297,180 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Brookfield Business Partners by 796.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 322,899 shares of the business services provider’s stock worth $10,530,000 after purchasing an additional 286,872 shares in the last quarter. Credit Industriel ET Commercial purchased a new stake in shares of Brookfield Business Partners in the 3rd quarter worth approximately $4,905,000. Legal & General Group Plc bought a new position in Brookfield Business Partners during the 2nd quarter valued at approximately $3,373,000. Finally, Alberta Investment Management Corp purchased a new position in Brookfield Business Partners during the third quarter valued at $3,392,000. 85.04% of the stock is currently owned by institutional investors.

About Brookfield Business Partners

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.