DORCHESTER WEALTH MANAGEMENT Co Sells 2,165 Shares of Brookfield Business Partners L.P. (NYSE:BBU)

DORCHESTER WEALTH MANAGEMENT Co lowered its stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 244,547 shares of the business services provider’s stock after selling 2,165 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Brookfield Business Partners were worth $5,627,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Brookfield Business Partners by 13.6% during 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. Principal Financial Group Inc. boosted its position in Brookfield Business Partners by 29.9% during the third quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock worth $2,731,000 after purchasing an additional 26,947 shares during the period. Caldwell Investment Management Ltd. bought a new stake in Brookfield Business Partners during the fourth quarter worth approximately $1,731,000. PCJ Investment Counsel Ltd. boosted its position in Brookfield Business Partners by 14.2% during 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. Finally, Bank of Montreal Can boosted its position in Brookfield Business Partners by 8.7% during the third quarter. Bank of Montreal Can now owns 834,512 shares of the business services provider’s stock worth $20,193,000 after purchasing an additional 66,786 shares during the period. Institutional investors own 85.04% of the company’s stock.

Wall Street Analyst Weigh In

BBU has been the subject of a number of recent analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Brookfield Business Partners in a research report on Monday, February 3rd. Royal Bank of Canada reduced their price objective on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, BMO Capital Markets increased their price objective 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. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Business Partners has an average rating of “Buy” and a consensus price target of $32.33.

Brookfield Business Partners Stock Down 2.5 %

BBU opened at $24.73 on Friday. Brookfield Business Partners L.P. has a 1-year low of $16.85 and a 1-year high of $26.75. 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 $1.84 billion, a price-to-earnings ratio of -50.46 and a beta of 1.50. The business has a 50 day moving average of $22.80 and a 200-day moving average of $22.72.

Brookfield Business Partners (NYSE:BBU) last issued its earnings results on Friday, January 31st. The business services provider reported $1.47 EPS for the quarter, topping 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%. As a group, sell-side analysts anticipate that Brookfield Business Partners L.P. will post 5.25 earnings per share for the current year.

Brookfield Business Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be given a $0.0625 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.25 annualized dividend and a yield of 1.01%. Brookfield Business Partners’s dividend payout ratio (DPR) is currently -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.