Brookfield Business Partners L.P. (NYSE:BBU) Shares Sold by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co trimmed its holdings in Brookfield Business Partners L.P. (NYSE:BBU) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 244,547 shares of the business services provider’s stock after selling 2,165 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co owned 0.33% of Brookfield Business Partners worth $5,627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of BBU. Intact Investment Management Inc. acquired a new stake in Brookfield Business Partners during the 3rd quarter worth about $45,000. Gold Investment Management Ltd. raised its holdings in Brookfield Business Partners by 7.4% during the 3rd quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock worth $739,000 after buying an additional 2,169 shares during the period. Caldwell Investment Management Ltd. acquired a new stake in Brookfield Business Partners during the 4th quarter worth about $1,731,000. National Bank of Canada FI raised its holdings 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. Finally, Principal Financial Group Inc. raised its holdings in Brookfield Business Partners by 29.9% during the 3rd quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock worth $2,731,000 after buying an additional 26,947 shares during the period. 85.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BBU shares. BMO Capital Markets upped their target price on Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Scotiabank reiterated an “outperform” rating on shares of Brookfield Business Partners in a report on Monday, February 3rd. Finally, Royal Bank of Canada dropped their target price on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Three 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, Brookfield Business Partners has a consensus rating of “Buy” and a consensus target price of $32.33.

Brookfield Business Partners Price Performance

Shares of BBU opened at $24.73 on Friday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -50.46 and a beta of 1.50. Brookfield Business Partners L.P. has a fifty-two week low of $16.85 and a fifty-two week high of $26.75. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.50 and a quick ratio of 0.39. The business’s 50-day moving average is $22.80 and its 200-day moving average is $22.72.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.09% and a net margin of 2.20%. Equities research analysts expect that Brookfield Business Partners L.P. will post 5.25 EPS for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued 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 yield of 1.01%. Brookfield Business Partners’s dividend payout ratio is currently -51.02%.

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.