CIBC Asset Management Inc raised its position in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 197.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,135,736 shares of the business services provider’s stock after purchasing an additional 1,417,874 shares during the quarter. CIBC Asset Management Inc owned 3.28% of Brookfield Business Partners L.P. worth $63,164,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BBU. Acadian Asset Management LLC bought a new stake in shares of Brookfield Business Partners L.P. during the 2nd quarter valued at about $486,000. Steinberg Global Asset Management grew its stake in shares of Brookfield Business Partners L.P. by 10.4% during the 2nd quarter. Steinberg Global Asset Management now owns 14,494 shares of the business services provider’s stock valued at $392,000 after purchasing an additional 1,360 shares during the period. First Manhattan Co. grew its stake in shares of Brookfield Business Partners L.P. by 20.0% during the 2nd quarter. First Manhattan Co. now owns 79,022 shares of the business services provider’s stock valued at $2,133,000 after purchasing an additional 13,153 shares during the period. TD Asset Management Inc. lifted its position in shares of Brookfield Business Partners L.P. by 3.2% during the 2nd quarter. TD Asset Management Inc. now owns 114,662 shares of the business services provider’s stock valued at $3,096,000 after buying an additional 3,607 shares in the last quarter. Finally, CIBC World Markets Inc. purchased a new position in shares of Brookfield Business Partners L.P. during the 2nd quarter valued at about $1,739,000. Institutional investors and hedge funds own 61.42% of the company’s stock.

A number of research analysts have recently weighed in on BBU shares. Brookfield Business Partners LP lifted their price objective on Brookfield Business Partners L.P. to $43.00 and gave the company an “outperform” rating in a research report on Wednesday, August 16th. Scotiabank lifted their price objective on Brookfield Business Partners L.P. from $29.00 to $33.50 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Finally, TheStreet cut Brookfield Business Partners L.P. from a “c” rating to a “d” rating in a research report on Monday, November 6th.

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Brookfield Business Partners L.P. (NYSE:BBU) traded up $0.11 during mid-day trading on Monday, hitting $29.82. The stock had a trading volume of 49,500 shares, compared to its average volume of 25,356. Brookfield Business Partners L.P. has a 12-month low of $21.72 and a 12-month high of $31.78. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.70 and a current ratio of 0.87.

About Brookfield Business Partners L.P.

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

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