PNC Financial Services Group Inc. Has $779,000 Stake in Brookfield Infrastructure Co. (NYSE:BIPC)

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 position in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 81.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,521 shares of the company's stock after purchasing an additional 9,658 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Brookfield Infrastructure were worth $779,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brown Advisory Inc. acquired a new position in Brookfield Infrastructure during the 1st quarter worth approximately $107,741,000. Parcion Private Wealth LLC acquired a new position in Brookfield Infrastructure during the 1st quarter worth approximately $5,685,000. TD Asset Management Inc boosted its position in Brookfield Infrastructure by 11.9% during the 1st quarter. TD Asset Management Inc now owns 1,297,388 shares of the company's stock worth $46,910,000 after acquiring an additional 137,537 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Brookfield Infrastructure during the 1st quarter worth approximately $3,728,000. Finally, Principal Financial Group Inc. boosted its position in Brookfield Infrastructure by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 3,194,929 shares of the company's stock worth $115,624,000 after acquiring an additional 85,121 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Brookfield Infrastructure from a "hold" rating to a "buy" rating in a research report on Sunday, July 6th.

Brookfield Infrastructure Trading Down 0.0%

Shares of Brookfield Infrastructure stock traded down $0.01 on Wednesday, reaching $40.26. 738,287 shares of the company were exchanged, compared to its average volume of 650,632. Brookfield Infrastructure Co. has a one year low of $32.08 and a one year high of $45.29. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 27.96 and a beta of 1.39. The company has a 50-day moving average of $41.09 and a 200 day moving average of $39.19.

Brookfield Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.3%. Brookfield Infrastructure's dividend payout ratio is currently 119.44%.

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.