Brookfield Business Partners L.P. (NYSE:BBU) Short Interest Down 14.2% in March

Brookfield Business Partners L.P. (NYSE:BBU) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 15,700 shares, a decline of 14.2% from the February 28th total of 18,300 shares. Based on an average daily volume of 17,100 shares, the short-interest ratio is presently 0.9 days. Currently, 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research analysts recently commented on BBU shares. Royal Bank of Canada cut their price objective on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. BMO Capital Markets upped their price target 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. Finally, Scotiabank reiterated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd.

Institutional Trading of Brookfield Business Partners

A number of institutional investors have recently made changes to their positions in BBU. Intact Investment Management Inc. raised its stake in shares of Brookfield Business Partners by 52.6% during the fourth quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider’s stock valued at $68,000 after acquiring an additional 1,000 shares during the last quarter. BBR Partners LLC purchased a new stake in Brookfield Business Partners in the fourth quarter worth $241,000. Bank of New York Mellon Corp lifted its position in shares of Brookfield Business Partners by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider’s stock worth $415,000 after purchasing an additional 1,448 shares during the period. Gold Investment Management Ltd. boosted its stake in shares of Brookfield Business Partners by 3.2% during the 4th quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider’s stock valued at $767,000 after purchasing an additional 1,017 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Brookfield Business Partners by 2.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider’s stock valued at $987,000 after buying an additional 1,146 shares during the period. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Price Performance

Shares of NYSE:BBU traded down $0.95 during trading on Thursday, reaching $23.31. The company had a trading volume of 6,655 shares, compared to its average volume of 14,663. The company has a fifty day moving average of $23.48 and a two-hundred day moving average of $23.45. The company has a current ratio of 0.50, a quick ratio of 0.39 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $2.12 billion, a P/E ratio of -47.57 and a beta of 1.50. Brookfield Business Partners has a 12 month low of $16.85 and a 12 month high of $26.75.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 EPS for the quarter, beating the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.09% and a net margin of 2.20%. Equities research analysts forecast that Brookfield Business Partners will post 5.25 earnings per share for the current year.

Brookfield Business Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.25 annualized dividend and a yield of 1.07%. Brookfield Business Partners’s payout ratio is -51.02%.

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.