Tandem Capital Management Corp ADV Has $707,000 Stake in Brookfield Business Partners L.P. (NYSE:BBU)

Tandem Capital Management Corp ADV trimmed its holdings in Brookfield Business Partners L.P. (NYSE:BBU) by 4.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 30,170 shares of the business services provider’s stock after selling 1,500 shares during the period. Tandem Capital Management Corp ADV’s holdings in Brookfield Business Partners were worth $707,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Intact Investment Management Inc. bought a new position in Brookfield Business Partners in the third quarter valued at approximately $45,000. Gold Investment Management Ltd. increased its stake in Brookfield Business Partners by 7.4% in the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock valued at $739,000 after acquiring an additional 2,169 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Brookfield Business Partners by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after acquiring an additional 608 shares during the last quarter. Caldwell Investment Management Ltd. bought a new position in Brookfield Business Partners in the fourth quarter valued at approximately $1,731,000. Finally, National Bank of Canada FI increased its stake in Brookfield Business Partners by 20.6% in the third quarter. National Bank of Canada FI now owns 97,584 shares of the business services provider’s stock valued at $2,274,000 after acquiring an additional 16,684 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BBU has been the topic of a number of research reports. Scotiabank boosted their target price on shares of Brookfield Business Partners from $32.00 to $33.00 and gave the stock a “sector outperform” rating in a research note on Monday. 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 note on Friday, January 10th. Finally, Royal Bank of Canada decreased their target price on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $32.60.

Brookfield Business Partners Stock Performance

Shares of Brookfield Business Partners stock opened at $21.51 on Tuesday. 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 twelve month low of $16.85 and a twelve month high of $26.75. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -43.89 and a beta of 1.50. The company’s fifty day moving average is $23.24 and its 200 day moving average is $22.36.

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 net margin of 2.20% and a return on equity of 5.00%. Sell-side analysts forecast that Brookfield Business Partners L.P. will post 5.26 EPS for the current year.

Brookfield Business Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.0625 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.25 annualized dividend and a yield of 1.16%. Brookfield Business Partners’s payout ratio is -51.02%.

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.