TD Waterhouse Canada Inc. Buys 14,981 Shares of Brookfield Business Partners L.P. $BBU

TD Waterhouse Canada Inc. increased its stake in Brookfield Business Partners L.P. (NYSE:BBU) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,102,273 shares of the business services provider’s stock after purchasing an additional 14,981 shares during the period. TD Waterhouse Canada Inc. owned approximately 1.24% of Brookfield Business Partners worth $28,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BBU. Rathbones Group PLC bought a new stake in shares of Brookfield Business Partners in the second quarter valued at about $265,000. Bank of New York Mellon Corp raised its position in Brookfield Business Partners by 11.7% in the 1st quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider’s stock valued at $465,000 after buying an additional 2,078 shares during the last quarter. Gold Investment Management Ltd. lifted its stake in Brookfield Business Partners by 6.8% in the 2nd quarter. Gold Investment Management Ltd. now owns 41,994 shares of the business services provider’s stock valued at $1,092,000 after acquiring an additional 2,685 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its position in Brookfield Business Partners by 6.2% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 104,106 shares of the business services provider’s stock worth $2,439,000 after acquiring an additional 6,090 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Stock Performance

Shares of BBU stock opened at $31.65 on Wednesday. The company has a fifty day moving average price of $32.34 and a two-hundred day moving average price of $27.90. Brookfield Business Partners L.P. has a one year low of $18.63 and a one year high of $36.90. The stock 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 debt-to-equity ratio of 2.84, a current ratio of 1.71 and a quick ratio of 1.41.

Brookfield Business Partners Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on BBU. Desjardins boosted their price objective on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Business Partners in a research report on Wednesday, October 8th. National Bankshares increased their price objective 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. Scotiabank set a $39.00 price objective on Brookfield Business Partners and gave the company an “outperform” rating in a report on Thursday, October 2nd. Finally, Zacks Research upgraded Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.50.

Brookfield Business Partners 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.