Brookfield Business Partners (NYSE:BBU) Shares Down 3.3% – Here’s What Happened

Brookfield Business Partners L.P. (NYSE:BBU)’s share price traded down 3.3% during mid-day trading on Monday . The stock traded as low as $23.42 and last traded at $23.42. 2,017 shares traded hands during trading, a decline of 80% from the average session volume of 9,922 shares. The stock had previously closed at $24.23.

Brookfield Business Partners Price Performance

The company has a market cap of $1.67 billion, a price-to-earnings ratio of 2.78 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 1.17. The company’s 50 day moving average price is $24.02 and its 200 day moving average price is $21.99.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.39. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. The firm had revenue of $9.23 billion for the quarter. During the same period in the prior year, the company posted $1.33 earnings per share. On average, equities research analysts predict that Brookfield Business Partners L.P. will post 5.43 earnings per share for the current fiscal year.

Brookfield Business Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were issued a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend 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 presently 3.09%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield Business Partners by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after acquiring an additional 608 shares during the period. Principal Financial Group Inc. lifted its position in 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 during the period. Intact Investment Management Inc. bought a new position in shares of Brookfield Business Partners in the 3rd quarter valued at about $45,000. Gold Investment Management Ltd. grew its position in shares of 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. Finally, Tandem Capital Management Corp ADV raised its stake in shares of Brookfield Business Partners by 24.5% during the third quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock worth $890,000 after buying an additional 7,939 shares during the last quarter. 85.04% of the stock is owned by institutional investors.

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.