Brookfield Business Partners (NYSE:BBU) Sees Strong Trading Volume – Here’s Why

Brookfield Business Partners L.P. (NYSE:BBU) saw unusually-high trading volume on Thursday . Approximately 25,728 shares changed hands during mid-day trading, an increase of 81% from the previous session’s volume of 14,192 shares.The stock last traded at $21.92 and had previously closed at $21.95.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Scotiabank lifted their price objective on shares of Brookfield Business Partners from $30.00 to $32.00 and gave the company a “sector outperform” rating in a report on Tuesday. BMO Capital Markets boosted their price target on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $32.80.

Brookfield Business Partners Stock Up 0.9 %

The firm’s fifty day simple moving average is $23.30 and its 200 day simple moving average is $22.32. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 2.71 and a beta of 1.50. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 2.12.

Brookfield Business Partners (NYSE:BBU) last issued its earnings results on Friday, January 31st. The business services provider reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. Sell-side analysts predict that Brookfield Business Partners L.P. will post 5.43 earnings per share for the current 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 given a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from Brookfield Business Partners’s previous quarterly dividend of $0.06. Brookfield Business Partners’s dividend payout ratio (DPR) is 3.09%.

Hedge Funds Weigh In On Brookfield Business Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBU. The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Business Partners by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock worth $770,000 after buying an additional 608 shares during the last quarter. Tandem Capital Management Corp ADV raised its stake in Brookfield Business Partners by 24.5% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock worth $890,000 after acquiring an additional 7,939 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in Brookfield Business Partners during the 3rd quarter worth $45,000. Principal Financial Group Inc. lifted its position in Brookfield Business Partners by 29.9% in the third quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock valued at $2,731,000 after acquiring an additional 26,947 shares during the last quarter. Finally, Gold Investment Management Ltd. boosted its stake in Brookfield Business Partners by 7.4% in the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock valued at $739,000 after acquiring an additional 2,169 shares in the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

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.