Principal Financial Group Inc. Acquires 1,808 Shares of Brookfield Business Partners L.P. (NYSE:BBU)

Principal Financial Group Inc. lifted its holdings in Brookfield Business Partners L.P. (NYSE:BBU) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,242 shares of the business services provider’s stock after buying an additional 1,808 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Brookfield Business Partners worth $1,701,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BBU. K2 Principal Fund L.P. bought a new position in shares of Brookfield Business Partners during the fourth quarter valued at approximately $2,033,000. Triasima Portfolio Management inc. bought a new stake in Brookfield Business Partners in the first quarter worth $1,405,000. Gold Investment Management Ltd. bought a new stake in Brookfield Business Partners in the fourth quarter worth $618,000. Montrusco Bolton Investments Inc. grew its stake in shares of Brookfield Business Partners by 54.3% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 59,354 shares of the business services provider’s stock worth $1,231,000 after acquiring an additional 20,891 shares during the last quarter. Finally, Partners Value Investments L.P. boosted its stake in Brookfield Business Partners by 0.7% in the 4th quarter. Partners Value Investments L.P. now owns 2,941,062 shares of the business services provider’s stock worth $60,527,000 after purchasing an additional 19,061 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors.

Brookfield Business Partners Trading Up 2.3 %

Shares of NYSE:BBU opened at $20.56 on Friday. Brookfield Business Partners L.P. has a 1 year low of $12.22 and a 1 year high of $23.75. The stock’s fifty day moving average price is $19.98 and its 200-day moving average price is $19.87. The company has a market cap of $1.53 billion, a P/E ratio of 3.22 and a beta of 1.45. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.00 and a quick ratio of 0.74.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings results on Friday, August 2nd. The business services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.95). Brookfield Business Partners had a return on equity of 21.76% and a net margin of 7.34%. The company had revenue of $11.95 billion during the quarter. During the same period in the previous year, the company earned $0.85 EPS. Sell-side analysts expect that Brookfield Business Partners L.P. will post 4.52 earnings per share for the current year.

Brookfield Business Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Business Partners’s payout ratio is currently 3.92%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada restated an “outperform” rating and set a $32.00 price objective on shares of Brookfield Business Partners in a research note on Monday, August 5th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield Business Partners presently has a consensus rating of “Buy” and a consensus price target of $31.40.

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.