Beutel Goodman & Co Ltd. Has $17.32 Million Position in Brookfield Business Partners L.P. (NYSE:BBU)

Beutel Goodman & Co Ltd. lessened its holdings in Brookfield Business Partners L.P. (NYSE:BBU) by 8.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 734,790 shares of the business services provider’s stock after selling 71,750 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Brookfield Business Partners were worth $17,319,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brookfield Corp ON increased its position in Brookfield Business Partners by 1.7% during the 3rd quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock valued at $596,538,000 after purchasing an additional 428,511 shares during the period. PCJ Investment Counsel Ltd. increased its stake in Brookfield Business Partners by 6.6% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 1,618,655 shares of the business services provider’s stock valued at $38,041,000 after purchasing an additional 99,763 shares in the last quarter. Bank of Montreal Can lifted its position in Brookfield Business Partners by 8.7% in the 3rd quarter. Bank of Montreal Can now owns 834,512 shares of the business services provider’s stock valued at $20,193,000 after acquiring an additional 66,786 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Brookfield Business Partners by 13.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider’s stock valued at $18,145,000 after purchasing an additional 92,413 shares in the last quarter. Finally, Forge First Asset Management Inc. boosted its holdings in Brookfield Business Partners by 48.3% during the 4th quarter. Forge First Asset Management Inc. now owns 532,964 shares of the business services provider’s stock worth $12,538,000 after acquiring an additional 173,500 shares during the last quarter. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Trading Down 1.4 %

BBU opened at $23.90 on Friday. 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 has a 50 day simple moving average of $23.34 and a two-hundred day simple moving average of $23.36. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -48.76 and a beta of 1.50. Brookfield Business Partners L.P. has a one year low of $16.85 and a one year high of $26.75.

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

Brookfield Business Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, February 28th. Brookfield Business Partners’s dividend payout ratio (DPR) is currently -51.02%.

Analyst Upgrades and Downgrades

BBU has been the subject of a number of recent analyst reports. Scotiabank restated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd. BMO Capital Markets increased their target price on Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Royal Bank of Canada cut their price objective on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd.

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.