Forge First Asset Management Inc. Has $9.33 Million Holdings in Brookfield Business Partners L.P. $BBU

Forge First Asset Management Inc. lowered its position in Brookfield Business Partners L.P. (NYSE:BBU) by 3.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 357,465 shares of the business services provider’s stock after selling 14,100 shares during the period. Brookfield Business Partners accounts for approximately 3.4% of Forge First Asset Management Inc.’s portfolio, making the stock its 11th largest position. Forge First Asset Management Inc. owned 0.40% of Brookfield Business Partners worth $9,333,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Brookfield Business Partners by 11.7% during the first quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider’s stock worth $465,000 after buying an additional 2,078 shares during the last quarter. TD Asset Management Inc grew its holdings in Brookfield Business Partners by 2.7% during the 1st quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider’s stock worth $3,625,000 after acquiring an additional 4,032 shares during the period. AGF Management Ltd. lifted its stake in shares of Brookfield Business Partners by 58.2% in the 1st quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider’s stock valued at $8,030,000 after purchasing an additional 126,189 shares during the period. Federation des caisses Desjardins du Quebec lifted its stake in shares of Brookfield Business Partners by 6.2% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 104,106 shares of the business services provider’s stock valued at $2,439,000 after purchasing an additional 6,090 shares during the period. Finally, BROOKFIELD Corp ON boosted its position in shares of Brookfield Business Partners by 72.5% during the 1st quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock valued at $1,035,806,000 after purchasing an additional 18,549,503 shares in the last quarter. 85.04% of the stock is owned by institutional investors.

Brookfield Business Partners Stock Performance

NYSE BBU opened at $31.65 on Wednesday. The company has a market cap of $2.81 billion, a P/E ratio of -17.58 and a beta of 1.39. The company has a fifty day simple moving average of $32.34 and a 200 day simple moving average of $27.90. The company has a current ratio of 1.71, a quick ratio of 1.41 and a debt-to-equity ratio of 2.84. Brookfield Business Partners L.P. has a 12-month low of $18.63 and a 12-month high of $36.90.

Brookfield Business Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, November 28th. Brookfield Business Partners’s dividend payout ratio (DPR) is currently -13.89%.

Analysts Set New Price Targets

BBU has been the topic of several recent analyst reports. Scotiabank set a $39.00 price target on Brookfield Business Partners and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Zacks Research upgraded shares of Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. National Bankshares increased their target price on shares of Brookfield Business Partners from $39.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Desjardins raised their price target on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.50.

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.