Brookfield Infrastructure Co. $BIPC Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in Brookfield Infrastructure Co. by 4.5%, now holding approximately 205,055 shares valued at about $7.4 million.
• Brookfield Infrastructure announced a quarterly dividend of $0.43 per share, representing an annualized dividend of $1.72 with a yield of 4.2%.
• Analysts have generally rated Brookfield Infrastructure stock as a "Hold," with a consensus price target of $46.00 following recent upgrades from equity analysts.

Rhumbline Advisers lowered its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 205,055 shares of the company's stock after selling 9,648 shares during the period. Rhumbline Advisers owned 0.17% of Brookfield Infrastructure worth $7,421,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BIPC. Geneos Wealth Management Inc. boosted its stake in shares of Brookfield Infrastructure by 338.3% during the first quarter. Geneos Wealth Management Inc. now owns 710 shares of the company's stock valued at $26,000 after acquiring an additional 548 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Brookfield Infrastructure during the first quarter valued at $29,000. First PREMIER Bank acquired a new stake in shares of Brookfield Infrastructure during the first quarter valued at $30,000. Trust Co. of Vermont acquired a new stake in shares of Brookfield Infrastructure during the first quarter valued at $34,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Brookfield Infrastructure by 117.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,064 shares of the company's stock valued at $39,000 after acquiring an additional 574 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company's stock.

Brookfield Infrastructure Trading Up 0.8%

Shares of Brookfield Infrastructure stock traded up $0.31 during trading hours on Wednesday, reaching $40.97. The stock had a trading volume of 139,608 shares, compared to its average volume of 632,265. The firm has a 50 day simple moving average of $40.32 and a two-hundred day simple moving average of $38.92. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 28.45 and a beta of 1.38. Brookfield Infrastructure Co. has a 1 year low of $32.08 and a 1 year high of $45.29.

Brookfield Infrastructure Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley increased their price objective on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 26th. Wall Street Zen lowered Brookfield Infrastructure from a "hold" rating to a "sell" rating in a research note on Monday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $46.00.

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.