Bank of Nova Scotia Increases Holdings in Brookfield Infrastructure Co. (NASDAQ:BIPC)

Bank of Nova Scotia boosted its stake in shares of Brookfield Infrastructure Co. (NASDAQ:BIPCGet Rating) by 82.1% during the second quarter, Holdings Channel reports. The firm owned 14,864 shares of the company’s stock after purchasing an additional 6,701 shares during the quarter. Bank of Nova Scotia’s holdings in Brookfield Infrastructure were worth $631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sargent Bickham Lagudis LLC raised its position in Brookfield Infrastructure by 49.8% during the second quarter. Sargent Bickham Lagudis LLC now owns 713 shares of the company’s stock valued at $30,000 after purchasing an additional 237 shares during the period. Valley National Advisers Inc. boosted its holdings in shares of Brookfield Infrastructure by 50.0% in the 2nd quarter. Valley National Advisers Inc. now owns 750 shares of the company’s stock valued at $32,000 after buying an additional 250 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Brookfield Infrastructure by 91.4% during the second quarter. UMB Bank n.a. now owns 806 shares of the company’s stock valued at $34,000 after acquiring an additional 385 shares in the last quarter. First PREMIER Bank lifted its position in Brookfield Infrastructure by 49.9% during the 2nd quarter. First PREMIER Bank now owns 841 shares of the company’s stock worth $36,000 after acquiring an additional 280 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Brookfield Infrastructure by 40.0% in the first quarter. Federated Hermes Inc. now owns 616 shares of the company’s stock valued at $46,000 after purchasing an additional 176 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upped their target price on Brookfield Infrastructure from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, August 4th.

Brookfield Infrastructure Stock Performance

Shares of BIPC stock opened at $45.33 on Monday. The stock has a market cap of $5.01 billion and a PE ratio of 31.48. The stock has a fifty day moving average price of $43.50 and a 200 day moving average price of $44.93. Brookfield Infrastructure Co. has a 1 year low of $37.54 and a 1 year high of $53.64.

Brookfield Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th will be given a $0.36 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.18%. Brookfield Infrastructure’s payout ratio is currently 100.00%.

Brookfield Infrastructure Profile

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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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Institutional Ownership by Quarter for Brookfield Infrastructure (NASDAQ:BIPC)

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