Picton Mahoney Asset Management Grows Stock Holdings in Brookfield Business Partners L.P. $BBU

Picton Mahoney Asset Management increased its position in Brookfield Business Partners L.P. (NYSE:BBU) by 74.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 696,679 shares of the business services provider’s stock after buying an additional 297,180 shares during the period. Picton Mahoney Asset Management owned about 0.79% of Brookfield Business Partners worth $22,849,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rathbones Group PLC bought a new position in shares of Brookfield Business Partners in the second quarter worth about $265,000. TD Waterhouse Canada Inc. boosted its stake in Brookfield Business Partners by 1.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider’s stock worth $28,344,000 after purchasing an additional 14,981 shares during the period. JPMorgan Chase & Co. grew its holdings in Brookfield Business Partners by 636.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 36,027 shares of the business services provider’s stock valued at $934,000 after buying an additional 31,135 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Brookfield Business Partners in the second quarter worth $3,373,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of Brookfield Business Partners in the second quarter worth $391,000. 85.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on BBU shares. National Bank Financial lifted their price target on shares of Brookfield Business Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, January 21st. Canadian Imperial Bank of Commerce began coverage on Brookfield Business Partners in a research note on Friday, February 27th. They set a “sector outperform” rating and a $44.00 price target for the company. BMO Capital Markets raised their price target on Brookfield Business Partners from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Finally, Desjardins upped their price objective on Brookfield Business Partners from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Six 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 a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Brookfield Business Partners Trading Down 0.6%

Shares of NYSE BBU opened at $34.44 on Wednesday. The business’s 50 day moving average is $35.37 and its two-hundred day moving average is $33.21. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.27 and a quick ratio of 0.19. Brookfield Business Partners L.P. has a 1-year low of $18.63 and a 1-year high of $37.75. The stock has a market capitalization of $3.02 billion, a P/E ratio of -132.46 and a beta of 1.30.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, January 30th. The business services provider reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($1.86). The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $3.46 billion. Brookfield Business Partners had a net margin of 1.41% and a return on equity of 2.67%. As a group, research analysts expect that Brookfield Business Partners L.P. will post 5.25 EPS for the current year.

Brookfield Business Partners Profile

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.