Tandem Capital Management Corp ADV Acquires 7,939 Shares of Brookfield Business Partners L.P. (NYSE:BBU)

Tandem Capital Management Corp ADV raised its stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) by 24.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,281 shares of the business services provider’s stock after acquiring an additional 7,939 shares during the quarter. Tandem Capital Management Corp ADV owned approximately 0.05% of Brookfield Business Partners worth $890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in Brookfield Business Partners during the 2nd quarter worth $307,000. The Manufacturers Life Insurance Company raised its stake 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 during the last quarter. AYAL Capital Advisors Ltd lifted its holdings in Brookfield Business Partners by 97.4% in the second quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock valued at $848,000 after acquiring an additional 22,200 shares during the period. Principal Financial Group Inc. boosted its holdings in Brookfield Business Partners by 35.7% during the first quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock worth $1,954,000 after buying an additional 23,258 shares in the last quarter. Finally, K2 Principal Fund L.P. boosted its stake 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 worth $3,455,000 after acquiring an additional 57,553 shares in the last quarter. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Business Partners Stock Performance

Shares of BBU stock traded down $0.35 during mid-day trading on Friday, hitting $22.20. 9,026 shares of the stock were exchanged, compared to its average volume of 14,090. The stock’s fifty day simple moving average is $21.95 and its two-hundred day simple moving average is $20.20. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.74 and a current ratio of 1.00. Brookfield Business Partners L.P. has a 12-month low of $12.22 and a 12-month high of $24.96. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 3.48 and a beta of 1.45.

Brookfield Business Partners (NYSE:BBU) last announced its earnings results on Friday, August 2nd. The business services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.95). Brookfield Business Partners had a return on equity of 21.76% and a net margin of 7.34%. The business had revenue of $11.95 billion for the quarter. During the same period last year, the business earned $0.85 EPS. On average, analysts forecast that Brookfield Business Partners L.P. will post 4.52 EPS for the current year.

Brookfield Business Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Business Partners’s dividend payout ratio is currently 3.92%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada restated an “outperform” rating and issued 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $31.40.

Brookfield Business Partners Company Profile

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.