Connor Clark & Lunn Investment Management Ltd. Reduces Stake in Brookfield Business Partners
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is a private equity firm that focuses on acquisitions in various sectors including business services, construction, energy, and industrials. The firm recently experienced a decrease in its stake in Brookfield Business Partners L.P., as disclosed by Connor Clark & Lunn Investment Management Ltd.
According to the most recent filing with the Securities & Exchange Commission, Connor Clark & Lunn Investment Management Ltd. reduced its ownership of shares in Brookfield Business Partners by 79.1% during the first quarter of this year. The firm now holds 83,800 shares of the company’s stock after selling 317,200 shares.
At the end of the first quarter, Connor Clark & Lunn Investment Management Ltd.’s stake in Brookfield Business Partners was valued at approximately $1,544,000. This translates to about 0.11% of the total worth of Brookfield Business Partners.
Brookfield Business Partners L.P. is known for specializing in acquiring companies and taking majority stakes in them. It aims to achieve a minimum return rate of 15% on its investments. Its investments are primarily focused on businesses operating in sectors such as business services, construction, energy, and industrials.
This reduction in stake by Connor Clark & Lunn Investment Management Ltd. could indicate a change in their investment strategy or a reassessment of their position in Brookfield Business Partners. It is important to note that these decisions are often made based on various factors such as market conditions and the performance outlook for the specific company.
Investors and market observers will closely monitor any further developments regarding Connor Clark & Lunn Investment Management Ltd.’s involvement with Brookfield Business Partners L.P.. This change could potentially impact other investors’ perception of the company’s prospects and its stock performance going forward.
It is worth noting that while this information provides valuable insight into recent activity involving investment management firms and their holdings, it is essential for individual investors to conduct thorough research before making any investment decisions. This includes considering various factors such as a company’s financial performance, market trends, and potential risks.
In conclusion, Connor Clark & Lunn Investment Management Ltd. has reduced its stake in Brookfield Business Partners L.P. by 79.1% during the first quarter of this year. This private equity firm focuses on acquiring businesses in sectors such as business services, construction, energy, and industrials. Investors and market observers will continue to monitor any further developments regarding Connor Clark & Lunn Investment Management Ltd.’s involvement with Brookfield Business Partners as it could have implications for the company’s future prospects and stock performance. Individual investors should conduct thorough research before making any investment decisions.
Brookfield Business Partners L.P.
BBU
Buy
Updated on: 13/09/2023
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Brookfield Business Partners Sees Mixed Investor Activity as Large Investors Adjust Holdings
August 22, 2023 – Brookfield Business Partners Sees Mixed Investor Activity as Large Investors Adjust Holdings
Brookfield Business Partners (NYSE: BBU), a private equity firm specializing in acquisitions, has recently experienced a mixture of increased and decreased stakes from large investors. UBS Group AG, one of the notable investors, boosted its position in shares of Brookfield Business Partners by 31.5% during the first quarter. This move resulted in UBS Group AG now owning 6,133 shares of the business services provider’s stock valued at $189,000 after acquiring an additional 1,468 shares during the period.
In a similar manner, 1832 Asset Management L.P. raised its stake in Brookfield Business Partners by 2.5% during the first quarter. The asset management company now owns 1,337,835 shares of the business services provider’s stock worth $40,399,000 after acquiring an additional 33,160 shares in the last quarter.
Bank of America Corp DE also demonstrated their confidence in Brookfield Business Partners during this period by increasing its stake by an impressive 365.7%. Bank of America Corp DE now owns 8,163 shares of the business services provider’s stock valued at $250,000 after buying an additional 6,410 shares.
Furthermore, Renaissance Technologies LLC revealed its trust in Brookfield Business Partners by increasing its stake by 18.3% in the second quarter. Renaissance Technologies LLC now owns 38,700 shares of the business services provider’s stock valued at $820,000 after buying an additional 6,000 shares.
Citadel Advisors LLC also expressed their faith in Brookfield Business Partners by increasing its stake by a substantial margin of 184% during the second quarter. Citadel Advisors LLC now holds approximately20,’,354 shares valued at approximately $431,,000.
With these positive moves from several significant institutional investors, it is worth noting that institutional investors as a whole own 77.59% of Brookfield Business Partners’ outstanding shares.
However, in a separate development, National Bankshares decreased the price target on Brookfield Business Partners from $35.00 to $33.00 and set an “outperform” rating on the stock in a report published on August 8th.
Brookfield Business Partners specializes in acquiring businesses within various sectors including business services, construction, energy, and industrials. The firm favors majority stakes in companies and strives for returns of at least 15% on its investments.
Currently trading at $15.25 per share on the New York Stock Exchange (NYSE), Brookfield Business Partners has experienced both high and low points over the past year with prices ranging from $15.25 to $24.71 per share. The company’s current ratio stands at 1.13, while its quick ratio is at 0.83 – indicating its ability to meet short-term obligations.
The company also recently declared a quarterly dividend which will be paid on Friday, September 29th. Investors who are recorded as shareholders by Thursday, August 31st will receive a dividend payment of $0.0625 per share. The ex-dividend date for this dividend is Wednesday, August 30th. This dividend represents an annualized payout of $0.25 and reflects a yield of 1.64%. It is notable that given the company’s present earnings, its dividend payout ratio (DPR) currently stands at an unusual level of 1,250%.
Overall, Brookfield Business Partners continues to attract attention from both large-scale investors and analysts alike despite the mixed stake adjustments observed recently within the market.