Tandem Capital Management Corp ADV Sells 672 Shares of Brookfield Business Partners L.P. (NYSE:BBU)

Tandem Capital Management Corp ADV trimmed its position in Brookfield Business Partners L.P. (NYSE:BBU) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,670 shares of the business services provider’s stock after selling 672 shares during the period. Tandem Capital Management Corp ADV’s holdings in Brookfield Business Partners were worth $738,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of Brookfield Business Partners during the 2nd quarter valued at $307,000. The Manufacturers Life Insurance Company raised 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 valued at $770,000 after buying an additional 608 shares in the last quarter. AYAL Capital Advisors Ltd raised its position in shares of Brookfield Business Partners by 97.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock valued at $848,000 after buying an additional 22,200 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Brookfield Business Partners by 35.7% during the 1st quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock valued at $1,954,000 after buying an additional 23,258 shares in the last quarter. Finally, K2 Principal Fund L.P. raised its position in shares of Brookfield Business Partners by 58.3% during the 1st quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider’s stock valued at $3,455,000 after buying an additional 57,553 shares in the last quarter. 85.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

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 report on Monday, August 5th. Five equities 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.com, the stock has a consensus rating of “Buy” and an average target price of $31.40.

Brookfield Business Partners Price Performance

Shares of NYSE:BBU opened at $22.00 on Thursday. The stock has a market cap of $1.63 billion, a PE ratio of 3.45 and a beta of 1.45. The company’s fifty day moving average is $22.08 and its 200 day moving average is $20.25. Brookfield Business Partners L.P. has a 52 week low of $12.22 and a 52 week high of $24.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 2.24.

Brookfield Business Partners (NYSE:BBU) last issued its 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). The business had revenue of $11.95 billion during the quarter. Brookfield Business Partners had a return on equity of 21.76% and a net margin of 7.34%. During the same quarter in the previous year, the firm posted $0.85 EPS. Research analysts anticipate that Brookfield Business Partners L.P. will post 4.52 earnings per share for the current year.

Brookfield Business Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Friday, August 30th. Brookfield Business Partners’s dividend payout ratio (DPR) is presently 3.92%.

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.