Bank of Montreal Can Has $15.04 Million Holdings in Brookfield Business Partners L.P. (NYSE:BBU)

Bank of Montreal Can grew its stake in Brookfield Business Partners L.P. (NYSE:BBU) by 3.1% in the second quarter, HoldingsChannel reports. The fund owned 767,726 shares of the business services provider’s stock after acquiring an additional 22,886 shares during the period. Bank of Montreal Can’s holdings in Brookfield Business Partners were worth $15,036,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in Brookfield Business Partners in the 2nd quarter worth approximately $307,000. Triasima Portfolio Management inc. acquired a new position in shares of Brookfield Business Partners during the first quarter valued at $1,405,000. Principal Financial Group Inc. boosted its holdings in Brookfield Business Partners by 35.7% in the first quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock valued at $1,954,000 after acquiring an additional 23,258 shares during the last quarter. K2 Principal Fund L.P. acquired a new stake in Brookfield Business Partners in the fourth quarter worth about $2,033,000. Finally, TD Asset Management Inc raised its holdings in Brookfield Business Partners by 4.1% during the 4th quarter. TD Asset Management Inc now owns 160,426 shares of the business services provider’s stock worth $3,328,000 after purchasing an additional 6,290 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Business Partners Price Performance

Shares of BBU opened at $23.93 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 2.24. The stock has a market cap of $1.78 billion, a P/E ratio of 3.75 and a beta of 1.45. The stock’s 50-day moving average price is $20.59 and its two-hundred day moving average price is $19.95. Brookfield Business Partners L.P. has a 1 year low of $12.22 and a 1 year high of $23.93.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings data on Friday, August 2nd. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.95). The firm had revenue of $11.95 billion for the quarter. Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. During the same period in the prior year, the company posted $0.85 EPS. On average, equities analysts predict 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 was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Friday, August 30th. Brookfield Business Partners’s dividend payout ratio is currently 3.92%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $32.00 target price on shares of Brookfield Business Partners in a research note on Monday, August 5th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average 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.