Hillsdale Investment Management Inc. grew its stake in shares of Brookfield Business Partners LP (NYSE:BBU) by 36.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,300 shares of the business services provider’s stock after purchasing an additional 26,800 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.13% of Brookfield Business Partners worth $3,942,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of BBU. Signition LP grew its holdings in shares of Brookfield Business Partners by 15.3% during the first quarter. Signition LP now owns 13,600 shares of the business services provider’s stock valued at $538,000 after purchasing an additional 1,800 shares during the last quarter. Steinberg Global Asset Management grew its holdings in Brookfield Business Partners by 4.9% in the 1st quarter. Steinberg Global Asset Management now owns 15,926 shares of the business services provider’s stock worth $630,000 after buying an additional 745 shares in the last quarter. Highstreet Asset Management Inc. grew its holdings in Brookfield Business Partners by 160.0% in the 1st quarter. Highstreet Asset Management Inc. now owns 46,468 shares of the business services provider’s stock worth $1,841,000 after buying an additional 28,594 shares in the last quarter. K.J. Harrison & Partners Inc grew its holdings in Brookfield Business Partners by 70.8% in the 1st quarter. K.J. Harrison & Partners Inc now owns 61,500 shares of the business services provider’s stock worth $2,437,000 after buying an additional 25,500 shares in the last quarter. Finally, Fosun International Ltd bought a new position in Brookfield Business Partners in the 1st quarter worth approximately $3,375,000. 61.26% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on BBU shares. TheStreet raised Brookfield Business Partners from a “d” rating to a “c-” rating in a report on Wednesday, July 31st. BMO Capital Markets set a $46.00 price objective on Brookfield Business Partners and gave the stock a “buy” rating in a report on Thursday, May 2nd. Credit Suisse Group started coverage on Brookfield Business Partners in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $48.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on Brookfield Business Partners from $45.00 to $47.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Brookfield Business Partners has a consensus rating of “Hold” and a consensus target price of $47.50.
Brookfield Business Partners (NYSE:BBU) last released its earnings results on Wednesday, July 31st. The business services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.67). The firm had revenue of $10.72 billion during the quarter. Brookfield Business Partners had a return on equity of 10.89% and a net margin of 2.11%.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be given a $0.063 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.73%. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, August 29th.
Brookfield Business Partners Profile
Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.
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