Brookfield Infrastructure Co. (NYSE:BIPC) Shares Acquired by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its stake in Brookfield Infrastructure Co. by 81.4% in Q1, owning a total of 21,521 shares valued at approximately $779,000.
• Wall Street analysts upgraded Brookfield Infrastructure from a "hold" to a "buy" rating, indicating positive growth expectations for the company.
• The company announced a quarterly dividend of $0.43 per share, translating to an annual yield of 4.3%, with a payout ratio of 119.44%.

PNC Financial Services Group Inc. boosted its holdings in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 81.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,521 shares of the company's stock after acquiring an additional 9,658 shares during the period. PNC Financial Services Group Inc.'s holdings in Brookfield Infrastructure were worth $779,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. First PREMIER Bank bought a new stake in shares of Brookfield Infrastructure during the first quarter valued at approximately $30,000. Trust Co. of Vermont bought a new stake in shares of Brookfield Infrastructure during the first quarter valued at approximately $34,000. Transce3nd LLC bought a new stake in shares of Brookfield Infrastructure during the fourth quarter valued at approximately $46,000. First Horizon Advisors Inc. raised its holdings in shares of Brookfield Infrastructure by 104.1% during the first quarter. First Horizon Advisors Inc. now owns 1,198 shares of the company's stock valued at $43,000 after buying an additional 611 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Brookfield Infrastructure by 79.1% during the first quarter. Fifth Third Bancorp now owns 1,501 shares of the company's stock valued at $54,000 after buying an additional 663 shares during the last quarter. Institutional investors own 70.38% of the company's stock.

Brookfield Infrastructure Stock Performance

Shares of BIPC traded up $0.20 during mid-day trading on Friday, reaching $38.73. 609,212 shares of the company's stock traded hands, compared to its average volume of 650,121. The business's 50-day moving average price is $41.00 and its 200-day moving average price is $39.15. The stock has a market capitalization of $4.61 billion, a P/E ratio of 26.90 and a beta of 1.39. Brookfield Infrastructure Co. has a 12 month low of $32.08 and a 12 month high of $45.29.

Brookfield Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors 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 dividend yield of 4.4%. The ex-dividend date is Friday, August 29th. Brookfield Infrastructure's dividend payout ratio (DPR) is currently 119.44%.

Analyst Ratings Changes

Separately, Wall Street Zen cut Brookfield Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday.

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.