Russell Investments Group Ltd. Boosts Stock Position in Brookfield Infrastructure Co. $BIPC

Key Points

• Russell Investments Group Ltd. increased its stake in Brookfield Infrastructure Co. by 6.1%, owning approximately 0.09% of the company valued at about $3.98 million as of its latest SEC filing.
• Brookfield Infrastructure recently announced a quarterly dividend of $0.43, representing a 4.3% dividend yield, with a payout ratio of 119.44%.
• Wall Street Zen downgraded Brookfield Infrastructure's rating from "buy" to "hold" in a recent research note, potentially impacting investor sentiment.

Russell Investments Group Ltd. boosted its holdings in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 6.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 109,980 shares of the company's stock after buying an additional 6,341 shares during the period. Russell Investments Group Ltd. owned 0.09% of Brookfield Infrastructure worth $3,979,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. First PREMIER Bank purchased a new position in shares of Brookfield Infrastructure in the 1st quarter worth about $30,000. Trust Co. of Vermont purchased a new position in shares of Brookfield Infrastructure in the 1st quarter worth about $34,000. First Horizon Advisors Inc. raised its holdings in shares of Brookfield Infrastructure by 104.1% in the 1st quarter. First Horizon Advisors Inc. now owns 1,198 shares of the company's stock worth $43,000 after purchasing an additional 611 shares during the period. SouthState Corp purchased a new position in shares of Brookfield Infrastructure in the 1st quarter worth about $47,000. Finally, Fifth Third Bancorp raised its holdings in shares of Brookfield Infrastructure by 79.1% in the 1st quarter. Fifth Third Bancorp now owns 1,501 shares of the company's stock worth $54,000 after purchasing an additional 663 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Stock Performance

Shares of NYSE:BIPC traded up $0.19 during mid-day trading on Thursday, hitting $40.70. 501,285 shares of the company traded hands, compared to its average volume of 641,453. The firm has a market cap of $4.85 billion, a P/E ratio of 28.26 and a beta of 1.39. Brookfield Infrastructure Co. has a 52-week low of $32.08 and a 52-week high of $45.29. The firm's 50 day simple moving average is $40.75 and its 200 day simple moving average is $39.05.

Brookfield Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, August 29th. Brookfield Infrastructure's dividend payout ratio (DPR) is presently 119.44%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BIPC. Wall Street Zen downgraded Brookfield Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Morgan Stanley raised their price objective on Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Tuesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Brookfield Infrastructure has a consensus rating of "Hold" and a consensus price target of $46.00.

About Brookfield Infrastructure

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.