BlackRock Inc. Cuts Stock Position in Brookfield Infrastructure Co. (NASDAQ:BIPC)

BlackRock Inc. trimmed its holdings in Brookfield Infrastructure Co. (NASDAQ:BIPC – Get Rating) by 3.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,714,063 shares of the company’s stock after selling 177,089 shares during the period. BlackRock Inc. owned 0.05% of Brookfield Infrastructure worth $232,562,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC lifted its holdings in Brookfield Infrastructure by 38.2% in the 2nd quarter. FMR LLC now owns 7,623,460 shares of the company’s stock worth $323,997,000 after purchasing an additional 2,106,364 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Brookfield Infrastructure in the second quarter worth $71,678,000. Brown Advisory Inc. boosted its position in shares of Brookfield Infrastructure by 63.3% during the second quarter. Brown Advisory Inc. now owns 2,617,172 shares of the company’s stock worth $111,230,000 after acquiring an additional 1,014,298 shares during the last quarter. Capital Research Global Investors purchased a new position in Brookfield Infrastructure during the first quarter valued at $49,813,000. Finally, Principal Financial Group Inc. increased its holdings in Brookfield Infrastructure by 45.3% in the 2nd quarter. Principal Financial Group Inc. now owns 1,713,348 shares of the company’s stock valued at $72,817,000 after acquiring an additional 534,287 shares during the last quarter. Institutional investors own 62.56% of the company’s stock.

Brookfield Infrastructure Stock Up 2.3 %

BIPC opened at $43.86 on Tuesday. The company has a market capitalization of $4.85 billion, a PE ratio of 30.46 and a beta of 1.24. The firm has a 50-day simple moving average of $43.29 and a two-hundred day simple moving average of $43.63. Brookfield Infrastructure Co. has a 52 week low of $37.54 and a 52 week high of $53.64.

Brookfield Infrastructure Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Tuesday, February 28th will be paid a dividend of $0.382 per share. The ex-dividend date is Monday, February 27th. This is a positive change from Brookfield Infrastructure’s previous quarterly dividend of $0.36. This represents a $1.53 dividend on an annualized basis and a yield of 3.48%. Brookfield Infrastructure’s dividend payout ratio is presently 106.25%.

About Brookfield Infrastructure

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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.