Brookfield Business Partners L.P. (NYSE:BBU – Get Free Report) saw a significant decrease in short interest in January. As of January 31st, there was short interest totalling 16,900 shares, a decrease of 54.6% from the January 15th total of 37,200 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 13,300 shares, the short-interest ratio is presently 1.3 days.
Insider Buying and Selling at Brookfield Business Partners
In other Brookfield Business Partners news, major shareholder Gp Ltd Bcp sold 387,068 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $2.24, for a total value of $867,032.32. Following the sale, the insider now owns 29,981,414 shares of the company’s stock, valued at $67,158,367.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 5,732,783 shares of company stock valued at $12,598,396 over the last quarter.
Institutional Investors Weigh In On Brookfield Business Partners
Large investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SNC purchased a new position in shares of Brookfield Business Partners in the second quarter valued at $40,000. UBS Group AG boosted its stake in shares of Brookfield Business Partners by 31.5% in the first quarter. UBS Group AG now owns 6,133 shares of the business services provider’s stock valued at $189,000 after purchasing an additional 1,468 shares during the period. Bank of America Corp DE boosted its stake in shares of Brookfield Business Partners by 365.7% in the first quarter. Bank of America Corp DE now owns 8,163 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 6,410 shares during the period. Citadel Advisors LLC purchased a new position in shares of Brookfield Business Partners in the second quarter valued at $323,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Brookfield Business Partners by 2.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,017 shares of the business services provider’s stock valued at $465,000 after purchasing an additional 701 shares during the period. Institutional investors and hedge funds own 79.81% of the company’s stock.
Brookfield Business Partners Price Performance
Brookfield Business Partners (NYSE:BBU – Get Free Report) last released its quarterly earnings data on Friday, February 2nd. The business services provider reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $5.67. Brookfield Business Partners had a net margin of 6.86% and a return on equity of 21.74%. The company had revenue of $13.41 billion during the quarter. During the same period in the previous year, the company earned $1.49 EPS. As a group, analysts predict that Brookfield Business Partners will post 3.95 EPS for the current year.
Brookfield Business Partners Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, February 28th. Brookfield Business Partners’s payout ratio is currently 3.85%.
Analyst Ratings Changes
A number of research firms have recently weighed in on BBU. Scotiabank boosted their price objective on shares of Brookfield Business Partners from $26.50 to $28.00 and gave the company a “sector outperform” rating in a research report on Monday, February 5th. TheStreet raised shares of Brookfield Business Partners from a “d” rating to a “c” rating in a research report on Friday, February 2nd. National Bankshares upped their price target on shares of Brookfield Business Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $28.00 price target on shares of Brookfield Business Partners in a research report on Monday, November 13th. Finally, Desjardins upped their price target on shares of Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $29.67.
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.
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