Intact Investment Management Inc. Takes Position in Brookfield Business Partners L.P. (NYSE:BBU)

Intact Investment Management Inc. purchased a new stake in shares of Brookfield Business Partners L.P. (NYSE:BBU) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,900 shares of the business services provider’s stock, valued at approximately $45,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of Brookfield Business Partners in the 2nd quarter valued at approximately $307,000. The Manufacturers Life Insurance Company grew its holdings in Brookfield Business Partners by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after purchasing an additional 608 shares during the last quarter. AYAL Capital Advisors Ltd raised its position in shares of 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 purchasing an additional 22,200 shares during the period. Tandem Capital Management Corp ADV lifted its stake in shares of Brookfield Business Partners by 24.5% in the third quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock worth $890,000 after buying an additional 7,939 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Brookfield Business Partners by 2.0% during the 2nd quarter. Principal Financial Group Inc. now owns 90,242 shares of the business services provider’s stock worth $1,701,000 after buying an additional 1,808 shares during the period. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 target price on shares of Brookfield Business Partners in a report on Monday, August 5th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Brookfield Business Partners has an average rating of “Buy” and a consensus price target of $31.40.

Brookfield Business Partners Stock Up 4.0 %

Shares of BBU stock opened at $23.55 on Wednesday. Brookfield Business Partners L.P. has a 12 month low of $14.21 and a 12 month high of $24.96. The firm has a market cap of $1.75 billion, a PE ratio of 3.62 and a beta of 1.45. The stock has a 50 day moving average of $22.24 and a 200-day moving average of $20.36. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 2.24.

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.