Avalon Investment & Advisory trimmed its holdings in Brookfield Infrastructure Co. (NASDAQ:BIPC – Get Rating) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 64,042 shares of the company’s stock after selling 2,471 shares during the period. Avalon Investment & Advisory owned approximately 0.06% of Brookfield Infrastructure worth $2,491,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its position in shares of Brookfield Infrastructure by 21.9% during the fourth quarter. American Century Companies Inc. now owns 935,719 shares of the company’s stock worth $36,399,000 after buying an additional 168,228 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of Brookfield Infrastructure by 3.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,479,550 shares of the company’s stock worth $57,554,000 after buying an additional 54,190 shares during the period. Sei Investments Co. boosted its position in shares of Brookfield Infrastructure by 330.4% during the fourth quarter. Sei Investments Co. now owns 28,795 shares of the company’s stock worth $1,120,000 after buying an additional 22,104 shares during the period. Ameritas Advisory Services LLC boosted its position in shares of Brookfield Infrastructure by 91.0% during the fourth quarter. Ameritas Advisory Services LLC now owns 11,910 shares of the company’s stock worth $463,000 after buying an additional 5,675 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in shares of Brookfield Infrastructure during the fourth quarter worth $1,272,000. 62.56% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Wells Fargo & Company raised their price target on Brookfield Infrastructure from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, April 13th.
Brookfield Infrastructure Trading Up 0.3 %
NASDAQ:BIPC traded up $0.13 during midday trading on Friday, reaching $46.30. The company had a trading volume of 28,740 shares, compared to its average volume of 349,465. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 32.06 and a beta of 1.24. The stock’s fifty day simple moving average is $45.02 and its 200-day simple moving average is $43.91. Brookfield Infrastructure Co. has a 12-month low of $37.54 and a 12-month high of $50.03.
Brookfield Infrastructure Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, May 31st will be issued a $0.3825 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This is a positive change from Brookfield Infrastructure’s previous quarterly dividend of $0.38. This represents a $1.53 dividend on an annualized basis and a yield of 3.30%. Brookfield Infrastructure’s dividend payout ratio (DPR) is 106.25%.
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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