DORCHESTER WEALTH MANAGEMENT Co Sells 7,812 Shares of Brookfield Business Partners L.P. (NYSE:BBU)

DORCHESTER WEALTH MANAGEMENT Co decreased its holdings in Brookfield Business Partners L.P. (NYSE:BBU) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 246,712 shares of the business services provider’s stock after selling 7,812 shares during the period. DORCHESTER WEALTH MANAGEMENT Co owned 0.33% of Brookfield Business Partners worth $5,625,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Bank of Montreal Can lifted its holdings in shares of Brookfield Business Partners by 3.1% in the 2nd quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock valued at $15,036,000 after acquiring an additional 22,886 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Brookfield Business Partners by 12.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider’s stock valued at $12,910,000 after acquiring an additional 77,017 shares in the last quarter. K2 Principal Fund L.P. raised its stake in shares of Brookfield Business Partners by 58.3% during the first quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider’s stock valued at $3,455,000 after acquiring an additional 57,553 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Brookfield Business Partners by 2.0% during the second quarter. Principal Financial Group Inc. now owns 90,242 shares of the business services provider’s stock valued at $1,701,000 after buying an additional 1,808 shares during the period. Finally, AYAL Capital Advisors Ltd increased its holdings in Brookfield Business Partners by 97.4% during the second quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock valued at $848,000 after buying an additional 22,200 shares during the period. Institutional investors own 85.04% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 price objective on shares of Brookfield Business Partners in a research note on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $31.40.

Brookfield Business Partners Stock Up 0.9 %

Shares of NYSE BBU traded up $0.21 during mid-day trading on Thursday, reaching $22.76. The company had a trading volume of 1,411 shares, compared to its average volume of 14,053. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 2.24. The firm has a 50 day simple moving average of $21.91 and a two-hundred day simple moving average of $20.19. The stock has a market cap of $1.69 billion, a P/E ratio of 3.59 and a beta of 1.45. Brookfield Business Partners L.P. has a 52-week low of $12.22 and a 52-week high of $24.96.

Brookfield Business Partners (NYSE:BBU) last released its earnings results on Friday, August 2nd. The business services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.86 by ($0.95). Brookfield Business Partners had a return on equity of 21.76% and a net margin of 7.34%. The firm had revenue of $11.95 billion during the quarter. During the same period in the previous year, the business earned $0.85 EPS. Sell-side analysts predict that Brookfield Business Partners L.P. will post 4.52 earnings per share for the current year.

Brookfield Business Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, August 30th. Brookfield Business Partners’s dividend payout ratio (DPR) is 3.92%.

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.