JPMorgan Chase & Co. Has $66,000 Stock Holdings in Brookfield Business Partners L.P. (NYSE:BBU)

JPMorgan Chase & Co. decreased its holdings in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 84.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,819 shares of the business services provider’s stock after selling 15,079 shares during the quarter. JPMorgan Chase & Co.’s holdings in Brookfield Business Partners were worth $66,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BBU. Brookfield Corp ON increased its position in shares of Brookfield Business Partners by 1.7% in the third quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock worth $596,538,000 after purchasing an additional 428,511 shares during the period. Toronto Dominion Bank increased its position in shares of Brookfield Business Partners by 12,276.3% in the third quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider’s stock worth $6,076,000 after purchasing an additional 258,662 shares during the period. PCJ Investment Counsel Ltd. increased its position in shares of Brookfield Business Partners by 14.2% in the third quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider’s stock worth $35,528,000 after purchasing an additional 188,743 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Brookfield Business Partners by 13.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider’s stock worth $18,145,000 after purchasing an additional 92,413 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its position in shares of Brookfield Business Partners by 14.7% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider’s stock worth $15,047,000 after purchasing an additional 82,372 shares during the period. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Trading Down 2.0 %

NYSE BBU opened at $21.51 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 2.12. The stock’s 50 day moving average is $23.24 and its 200 day moving average is $22.36. Brookfield Business Partners L.P. has a twelve month low of $16.85 and a twelve month high of $26.75. The firm has a market capitalization of $1.60 billion, a PE ratio of -43.89 and a beta of 1.50.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.47 earnings per share for the quarter, topping the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.00% and a net margin of 2.20%. Research analysts forecast that Brookfield Business Partners L.P. will post 5.26 earnings per share for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Friday, February 28th. Brookfield Business Partners’s payout ratio is presently -51.02%.

Analysts Set New Price Targets

BBU has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their target price on Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Scotiabank lifted their target price on Brookfield Business Partners from $32.00 to $33.00 and gave the stock a “sector outperform” rating in a report on Monday. Finally, Royal Bank of Canada lowered their target price on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Business Partners currently has an average rating of “Buy” and a consensus price target of $32.60.

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.