Brookfield Business Partners L.P. (NYSE:BBU) Stake Held by Davis Selected Advisers

Davis Selected Advisers continued to hold its position in Brookfield Business Partners L.P. (NYSE:BBU) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,307 shares of the business services provider’s stock at the end of the second quarter. Davis Selected Advisers’ holdings in Brookfield Business Partners L.P. were worth $360,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in BBU. Acadian Asset Management LLC purchased a new position in shares of Brookfield Business Partners L.P. in the 2nd quarter worth about $486,000. Steinberg Global Asset Management raised its holdings in shares of Brookfield Business Partners L.P. by 10.4% in the 2nd quarter. Steinberg Global Asset Management now owns 14,494 shares of the business services provider’s stock worth $392,000 after purchasing an additional 1,360 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Brookfield Business Partners L.P. by 476.9% in the 2nd quarter. CIBC Asset Management Inc now owns 717,862 shares of the business services provider’s stock worth $19,391,000 after purchasing an additional 593,430 shares during the period. First Manhattan Co. raised its holdings in shares of Brookfield Business Partners L.P. by 20.0% in the 2nd quarter. First Manhattan Co. now owns 79,022 shares of the business services provider’s stock worth $2,133,000 after purchasing an additional 13,153 shares during the period. Finally, TD Asset Management Inc. raised its holdings in shares of Brookfield Business Partners L.P. by 3.2% in the 2nd quarter. TD Asset Management Inc. now owns 114,662 shares of the business services provider’s stock worth $3,096,000 after purchasing an additional 3,607 shares during the period. Institutional investors own 73.63% of the company’s stock.

A number of research firms have recently commented on BBU. Brookfield Business Partners LP raised their price objective on Brookfield Business Partners L.P. to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, August 16th. Scotiabank increased their target price on Brookfield Business Partners L.P. from $29.00 to $33.50 and gave the company an “outperform” rating in a research note on Wednesday, August 9th.

Brookfield Business Partners L.P. (NYSE BBU) traded down 0.01% during midday trading on Friday, hitting $30.97. The stock had a trading volume of 526 shares. Brookfield Business Partners L.P. has a 12-month low of $21.72 and a 12-month high of $31.78. The stock has a market cap of $3.34 billion, a P/E ratio of 101.21 and a beta of 1.85. The company’s 50-day moving average price is $29.62 and its 200 day moving average price is $27.00.

Brookfield Business Partners L.P. (NYSE:BBU) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.15). Brookfield Business Partners L.P. had a return on equity of 1.22% and a net margin of 1.63%. The company had revenue of $4.87 billion during the quarter. On average, equities research analysts predict that Brookfield Business Partners L.P. will post $1.38 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a $0.063 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Brookfield Business Partners L.P.’s previous quarterly dividend of $0.06.

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About Brookfield Business Partners L.P.

Institutional Ownership by Quarter for Brookfield Business Partners L.P. (NYSE:BBU)

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