PNC Financial Services Group Inc. lowered its position in Brookfield Infrastructure Co. (NASDAQ:BIPC – Free Report) by 7.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,286 shares of the company’s stock after selling 939 shares during the period. PNC Financial Services Group Inc.’s holdings in Brookfield Infrastructure were worth $399,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Brookfield Infrastructure in the fourth quarter worth about $43,419,000. Alpine Associates Management Inc. bought a new position in shares of Brookfield Infrastructure in the third quarter worth about $26,840,000. Capital Research Global Investors bought a new position in shares of Brookfield Infrastructure in the first quarter worth about $49,813,000. State Street Corp grew its holdings in shares of Brookfield Infrastructure by 55.7% in the second quarter. State Street Corp now owns 1,426,876 shares of the company’s stock worth $60,642,000 after purchasing an additional 510,469 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Brookfield Infrastructure by 22.7% in the third quarter. Brown Advisory Inc. now owns 2,126,621 shares of the company’s stock worth $75,155,000 after purchasing an additional 393,127 shares during the last quarter. Hedge funds and other institutional investors own 68.89% of the company’s stock.
Brookfield Infrastructure Trading Up 1.9 %
NASDAQ BIPC opened at $33.81 on Friday. Brookfield Infrastructure Co. has a 12 month low of $25.48 and a 12 month high of $48.23. The company’s 50-day moving average price is $35.34 and its 200-day moving average price is $34.40. The stock has a market cap of $4.46 billion, a PE ratio of 23.48 and a beta of 1.40.
Brookfield Infrastructure Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, February 29th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 4.79%. This is a boost from Brookfield Infrastructure’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, February 28th. Brookfield Infrastructure’s dividend payout ratio is presently 112.50%.
Brookfield Infrastructure Company Profile
Brookfield Infrastructure Corporation, together with its subsidiaries, owns and operates regulated natural gas transmission systems in Brazil. The company also engages in the regulated gas and electricity distribution operations in the United Kingdom; and electricity transmission and distribution, as well as gas distribution in Australia.
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Source: americanbankingnews.com
