K2 Principal Fund L.P. Lowers Stock Position in Brookfield Business Partners L.P. (NYSE:BBU)

K2 Principal Fund L.P. cut its holdings in Brookfield Business Partners L.P. (NYSE:BBU) by 17.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,505 shares of the business services provider’s stock after selling 10,388 shares during the quarter. K2 Principal Fund L.P. owned about 0.07% of Brookfield Business Partners worth $1,153,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Intact Investment Management Inc. acquired a new stake in Brookfield Business Partners during the 3rd quarter worth approximately $45,000. Bank of New York Mellon Corp acquired a new stake in shares of Brookfield Business Partners during the second quarter worth $307,000. Gold Investment Management Ltd. grew its position in Brookfield Business Partners by 7.4% in the 3rd quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock valued at $739,000 after buying an additional 2,169 shares during the last quarter. Tandem Capital Management Corp ADV increased its stake in Brookfield Business Partners by 24.5% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock valued at $890,000 after buying an additional 7,939 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Brookfield Business Partners by 1.5% in 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 period. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Stock Down 3.6 %

BBU stock opened at $24.75 on Friday. The stock has a market capitalization of $1.84 billion, a PE ratio of 3.06 and a beta of 1.48. The company has a fifty day moving average of $24.01 and a 200-day moving average of $21.27. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 1.17. Brookfield Business Partners L.P. has a one year low of $16.65 and a one year high of $26.75.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.39. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. The firm had revenue of $9.23 billion during the quarter. During the same quarter in the previous year, the business earned $1.33 EPS. As a group, analysts expect that Brookfield Business Partners L.P. will post 5.43 EPS for the current year.

Brookfield Business Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.063 dividend. This is a boost from Brookfield Business Partners’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, November 29th. Brookfield Business Partners’s dividend payout ratio (DPR) is currently 3.09%.

Brookfield Business Partners 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.