Brookfield Business Partners L.P. $BBU Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its holdings in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 3.6% during the second quarter, HoldingsChannel.com reports. The firm owned 149,315 shares of the business services provider’s stock after selling 5,505 shares during the period. TD Asset Management Inc’s holdings in Brookfield Business Partners were worth $3,877,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Brookfield Business Partners by 11.7% during the first quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider’s stock worth $465,000 after purchasing an additional 2,078 shares in the last quarter. Gold Investment Management Ltd. increased its position in shares of Brookfield Business Partners by 20.9% during the first 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 in the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in shares of Brookfield Business Partners by 6.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 104,106 shares of the business services provider’s stock valued at $2,439,000 after buying an additional 6,090 shares during the last quarter. Triasima Portfolio Management inc. purchased a new stake in shares of Brookfield Business Partners during the first quarter valued at $3,997,000. Finally, AGF Management Ltd. grew its holdings in shares of Brookfield Business Partners by 58.2% during the first quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider’s stock valued at $8,030,000 after buying an additional 126,189 shares during the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

Brookfield Business Partners Price Performance

NYSE:BBU opened at $35.34 on Tuesday. Brookfield Business Partners L.P. has a one year low of $18.63 and a one year high of $36.72. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.36 and a current ratio of 1.67. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -271.81 and a beta of 1.38. The firm’s fifty day moving average is $29.55 and its two-hundred day moving average is $26.01.

Brookfield Business Partners Announces Dividend

The firm 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 is presently -192.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, October 8th. National Bankshares boosted their price objective on shares of Brookfield Business Partners from $33.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, September 26th. Zacks Research lowered shares of Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 30th. Wall Street Zen lowered shares of Brookfield Business Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Desjardins boosted their price objective on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.83.

Brookfield Business Partners 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.