Legal & General Group Plc Makes New $3.37 Million Investment in Brookfield Business Partners L.P. $BBU

Legal & General Group Plc purchased a new position in Brookfield Business Partners L.P. (NYSE:BBU) in the second quarter, Holdings Channel reports. The institutional investor purchased 129,894 shares of the business services provider’s stock, valued at approximately $3,373,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in Brookfield Business Partners by 636.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 36,027 shares of the business services provider’s stock worth $934,000 after purchasing an additional 31,135 shares during the period. TD Waterhouse Canada Inc. increased its position in shares of Brookfield Business Partners by 1.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider’s stock valued at $28,344,000 after buying an additional 14,981 shares during the period. Rathbones Group PLC bought a new stake in shares of Brookfield Business Partners during the second quarter valued at about $265,000. Gold Investment Management Ltd. lifted its holdings in shares of Brookfield Business Partners by 6.8% in the second quarter. Gold Investment Management Ltd. now owns 41,994 shares of the business services provider’s stock worth $1,092,000 after buying an additional 2,685 shares in the last quarter. Finally, BROOKFIELD Corp ON boosted its position in shares of Brookfield Business Partners by 72.5% in the first quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock valued at $1,035,806,000 after acquiring an additional 18,549,503 shares during the period. 85.04% of the stock is currently owned by institutional investors.

Brookfield Business Partners Stock Performance

Brookfield Business Partners stock opened at $35.73 on Friday. Brookfield Business Partners L.P. has a fifty-two week low of $18.63 and a fifty-two week high of $36.90. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.41 and a current ratio of 1.71. The stock has a market cap of $3.17 billion, a P/E ratio of -19.85 and a beta of 1.32. The firm’s fifty day moving average price is $33.78 and its 200-day moving average price is $28.79.

Brookfield Business Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be given a dividend of $0.0625 per share. The ex-dividend date is Friday, November 28th. This represents a $0.25 dividend on an annualized basis and a yield of 0.7%. Brookfield Business Partners’s dividend payout ratio (DPR) is presently -13.89%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BBU. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, October 8th. National Bankshares boosted their price target on shares of Brookfield Business Partners from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Royal Bank Of Canada upped their price target on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Zacks Research raised Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Scotiabank set a $39.00 target price on Brookfield Business Partners and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

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.