Tandem Capital Management Corp ADV Sells 672 Shares of Brookfield Business Partners L.P. (NYSE:BBU)

Tandem Capital Management Corp ADV decreased its stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,670 shares of the business services provider’s stock after selling 672 shares during the period. Tandem Capital Management Corp ADV’s holdings in Brookfield Business Partners were worth $738,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Brookfield Business Partners by 1.5% during 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 in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Brookfield Business Partners by 2.0% during the 2nd quarter. Principal Financial Group Inc. now owns 90,242 shares of the business services provider’s stock valued at $1,701,000 after purchasing an additional 1,808 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Brookfield Business Partners during the second quarter worth about $307,000. AYAL Capital Advisors Ltd boosted its stake 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 worth $848,000 after acquiring an additional 22,200 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Brookfield Business Partners by 3.1% during the second quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock worth $15,036,000 after acquiring an additional 22,886 shares in the last quarter. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Trading Up 1.5 %

NYSE:BBU opened at $22.00 on Thursday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.00 and a quick ratio of 0.74. The firm has a market capitalization of $1.63 billion, a P/E ratio of 3.45 and a beta of 1.45. Brookfield Business Partners L.P. has a one year low of $12.22 and a one year high of $24.96. The company’s 50-day simple moving average is $22.08 and its 200 day simple moving average is $20.25.

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

Brookfield Business Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $0.0625 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.25 annualized dividend and a yield of 1.14%. Brookfield Business Partners’s dividend payout ratio (DPR) is presently 3.92%.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued 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 research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Brookfield Business Partners presently has an average rating of “Buy” and a consensus target price of $31.40.

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.