Tandem Capital Management Corp ADV Has $707,000 Stock Holdings in Brookfield Business Partners L.P. (NYSE:BBU)

Tandem Capital Management Corp ADV decreased its position in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 4.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,170 shares of the business services provider’s stock after selling 1,500 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Brookfield Business Partners were worth $707,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Intact Investment Management Inc. acquired a new position in shares of Brookfield Business Partners in the 3rd quarter valued at $45,000. Gold Investment Management Ltd. lifted its stake in shares of Brookfield Business Partners by 7.4% in the 3rd quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock valued at $739,000 after purchasing an additional 2,169 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield Business Partners by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after purchasing an additional 608 shares during the period. Caldwell Investment Management Ltd. acquired a new stake in Brookfield Business Partners during the 4th quarter worth $1,731,000. Finally, National Bank of Canada FI raised its stake in Brookfield Business Partners by 20.6% during the 3rd quarter. National Bank of Canada FI now owns 97,584 shares of the business services provider’s stock worth $2,274,000 after buying an additional 16,684 shares during the period. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Trading Down 2.0 %

Shares of BBU stock opened at $21.51 on Tuesday. The firm has a 50 day moving average price of $23.24 and a two-hundred day moving average price of $22.36. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 2.12. The company has a market capitalization of $1.60 billion, a PE ratio of -43.89 and a beta of 1.50. Brookfield Business Partners L.P. has a 12-month low of $16.85 and a 12-month high of $26.75.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.00%. As a group, analysts predict that Brookfield Business Partners L.P. will post 5.26 earnings per share for the current year.

Brookfield Business Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.16%. Brookfield Business Partners’s payout ratio is -51.02%.

Analyst Ratings Changes

Several analysts recently commented on BBU shares. BMO Capital Markets raised their price objective on Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Royal Bank of Canada lowered their target price on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Monday. Finally, Scotiabank increased their target price on Brookfield Business Partners from $32.00 to $33.00 and gave the stock a “sector outperform” rating in a report on Monday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $32.60.

About Brookfield Business Partners

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.