PCJ Investment Counsel Ltd. Purchases 67,295 Shares of Brookfield Business Partners L.P. $BBU

PCJ Investment Counsel Ltd. boosted its position in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 5.3% in the third quarter, HoldingsChannel.com reports. The fund owned 1,338,079 shares of the business services provider’s stock after purchasing an additional 67,295 shares during the period. Brookfield Business Partners accounts for 12.2% of PCJ Investment Counsel Ltd.’s holdings, making the stock its largest position. PCJ Investment Counsel Ltd.’s holdings in Brookfield Business Partners were worth $43,786,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of Brookfield Business Partners by 30,100.0% in the second quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,204 shares during the period. Guardian Partners Inc. purchased a new position in Brookfield Business Partners in the 3rd quarter valued at approximately $221,000. Cumberland Partners Ltd acquired a new position in shares of Brookfield Business Partners in the third quarter worth $318,000. Rathbones Group PLC purchased a new stake in shares of Brookfield Business Partners during the second quarter worth $265,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of Brookfield Business Partners in the second quarter valued at $391,000. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Business Partners Trading Up 2.6%

BBU opened at $33.45 on Wednesday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.19 and a current ratio of 0.27. Brookfield Business Partners L.P. has a one year low of $18.63 and a one year high of $37.75. The company has a market cap of $2.93 billion, a P/E ratio of -128.65 and a beta of 1.30. The business’s 50-day simple moving average is $35.10 and its 200-day simple moving average is $33.44.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($1.86). The business had revenue of $7 billion during the quarter, compared to analyst estimates 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, equities research analysts expect that Brookfield Business Partners L.P. will post 5.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BBU shares. Scotiabank reissued an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 2nd. BMO Capital Markets boosted their price objective on Brookfield Business Partners from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Canadian Imperial Bank of Commerce started coverage on shares of Brookfield Business Partners in a research note on Friday, February 27th. They set a “sector outperform” rating and a $44.00 target price on the stock. Zacks Research downgraded shares of Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Finally, National Bank Financial increased their price objective on shares of Brookfield Business Partners from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Brookfield Business Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

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.