Triasima Portfolio Management inc. Decreases Position in Brookfield Business Partners L.P. $BBU

Triasima Portfolio Management inc. lowered its stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 20.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 135,680 shares of the business services provider’s stock after selling 35,005 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Brookfield Business Partners were worth $3,523,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of BBU. BROOKFIELD Corp ON increased its stake in shares of Brookfield Business Partners by 72.5% during the 1st quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock worth $1,035,806,000 after purchasing an additional 18,549,503 shares during the last quarter. AGF Management Ltd. increased its stake in shares of Brookfield Business Partners by 58.2% during the 1st quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider’s stock worth $8,030,000 after purchasing an additional 126,189 shares during the last quarter. Gold Investment Management Ltd. increased its stake in shares of Brookfield Business Partners by 20.9% during the 1st quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider’s stock worth $921,000 after purchasing an additional 6,791 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its stake in shares of Brookfield Business Partners by 6.2% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 104,106 shares of the business services provider’s stock worth $2,439,000 after purchasing an additional 6,090 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of Brookfield Business Partners by 2.7% during the 1st quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider’s stock worth $3,625,000 after purchasing an additional 4,032 shares during the last quarter. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Stock Up 0.0%

Shares of NYSE:BBU opened at $33.51 on Wednesday. The firm has a fifty day moving average price of $27.70 and a two-hundred day moving average price of $25.29. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.67 and a quick ratio of 1.36. Brookfield Business Partners L.P. has a one year low of $18.63 and a one year high of $33.86. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -257.77 and a beta of 1.38.

Brookfield Business Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Business Partners’s dividend payout ratio (DPR) is presently -192.31%.

Analysts Set New Price Targets

BBU has been the subject of several research analyst reports. Scotiabank set a $39.00 price target on shares of Brookfield Business Partners and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Wall Street Zen lowered shares of Brookfield Business Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Zacks Research lowered shares of Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 30th. National Bankshares lifted their price objective on shares of Brookfield Business Partners from $33.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Finally, Royal Bank Of Canada lifted their price objective on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Five investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.83.

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.