Brookfield Business Partners (NYSE:BBU) Sees Strong Trading Volume

Shares of Brookfield Business Partners L.P. (NYSE:BBU) saw strong trading volume on Wednesday . 21,402 shares were traded during trading, an increase of 29% from the previous session’s volume of 16,638 shares.The stock last traded at $21.71 and had previously closed at $21.62.

Wall Street Analyst Weigh In

BBU has been the topic of a number of research analyst reports. National Bankshares boosted their price target on Brookfield Business Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. BMO Capital Markets upped their price objective on Brookfield Business Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. TheStreet downgraded Brookfield Business Partners from a “c” rating to a “d+” rating in a research report on Wednesday, March 13th. Desjardins increased their price target on Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, Scotiabank upped their price objective on Brookfield Business Partners from $26.50 to $28.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $29.67.

Brookfield Business Partners Price Performance

The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 2.22. The stock’s fifty day moving average price is $21.90 and its 200-day moving average price is $18.43. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 3.40 and a beta of 1.41.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings results on Friday, February 2nd. The business services provider reported $6.57 EPS for the quarter, topping the consensus estimate of $0.90 by $5.67. The business had revenue of $13.41 billion during the quarter. Brookfield Business Partners had a net margin of 6.86% and a return on equity of 21.74%. During the same quarter last year, the firm earned $1.49 EPS. As a group, equities research analysts forecast that Brookfield Business Partners L.P. will post 3.95 earnings per share for the current fiscal year.

Brookfield Business Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th were given a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.25 annualized dividend and a yield of 1.13%. Brookfield Business Partners’s payout ratio is currently 3.85%.

Insiders Place Their Bets

In related news, major shareholder Gp Ltd Bcp sold 3,922,786 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $2.20, for a total transaction of $8,630,129.20. Following the transaction, the insider now owns 23,352,826 shares of the company’s stock, valued at $51,376,217.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Brookfield Business Partners

A number of large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SNC acquired a new position in shares of Brookfield Business Partners during the second quarter valued at approximately $40,000. UBS Group AG lifted its stake in shares of Brookfield Business Partners by 31.5% in the 1st quarter. UBS Group AG now owns 6,133 shares of the business services provider’s stock valued at $189,000 after purchasing an additional 1,468 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Brookfield Business Partners by 365.7% in the 1st quarter. Bank of America Corp DE now owns 8,163 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 6,410 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Brookfield Business Partners in the 2nd quarter valued at $323,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Brookfield Business Partners by 2.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,017 shares of the business services provider’s stock worth $465,000 after acquiring an additional 701 shares during the period. Institutional investors 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.