Caldwell Investment Management Ltd. Takes Position in Brookfield Business Partners L.P. (NYSE:BBU)

Caldwell Investment Management Ltd. purchased a new stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 78,700 shares of the business services provider’s stock, valued at approximately $1,731,000. Brookfield Business Partners comprises approximately 1.2% of Caldwell Investment Management Ltd.’s portfolio, making the stock its 18th biggest position. Caldwell Investment Management Ltd. owned about 0.11% of Brookfield Business Partners at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Brookfield Corp ON raised its holdings in shares of Brookfield Business Partners by 1.7% during the 3rd quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock valued at $596,538,000 after buying an additional 428,511 shares in the last quarter. PCJ Investment Counsel Ltd. raised its holdings in shares of Brookfield Business Partners by 14.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider’s stock valued at $35,528,000 after buying an additional 188,743 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Brookfield Business Partners by 8.7% during the 3rd quarter. Bank of Montreal Can now owns 834,512 shares of the business services provider’s stock valued at $20,193,000 after buying an additional 66,786 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Brookfield Business Partners by 13.6% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider’s stock valued at $18,145,000 after buying an additional 92,413 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of Brookfield Business Partners by 14.7% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider’s stock valued at $15,047,000 after buying an additional 82,372 shares in the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets raised their price objective on Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Brookfield Business Partners has a consensus rating of “Buy” and an average target price of $32.00.

Brookfield Business Partners Price Performance

Shares of Brookfield Business Partners stock opened at $22.08 on Wednesday. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.17 and a quick ratio of 0.95. The business’s 50 day simple moving average is $23.99 and its two-hundred day simple moving average is $22.14. The stock has a market capitalization of $1.64 billion, a P/E ratio of 2.73 and a beta of 1.50. Brookfield Business Partners L.P. has a one year low of $16.85 and a one year high of $26.75.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.39. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. The business had revenue of $9.23 billion for the quarter. During the same period last year, the firm earned $1.33 earnings per share. Analysts forecast that Brookfield Business Partners L.P. will post 5.43 EPS for the current year.

Brookfield Business Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a dividend of $0.063 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Friday, November 29th. This is a boost from Brookfield Business Partners’s previous quarterly dividend of $0.06. Brookfield Business Partners’s dividend payout ratio is 3.09%.

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.