Brookfield Infrastructure Co. $BIPC Shares Sold by Redmond Asset Management LLC

Key Points

• Redmond Asset Management LLC decreased its stake in Brookfield Infrastructure Co. (NYSE:BIPC) by 28.3%, owning 35,609 shares valued at approximately $1.29 million after selling 14,070 shares in the most recent quarter.
• Brookfield Infrastructure announced a quarterly dividend of $0.43 per share, with an annualized dividend of $1.72, representing a dividend yield of 4.5% and a payout ratio of 119.44%.
• Wall Street Zen upgraded Brookfield Infrastructure from a "hold" to a "buy" rating as of July 6th, reflecting increased analyst confidence in the company's performance.

Redmond Asset Management LLC decreased its holdings in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,609 shares of the company's stock after selling 14,070 shares during the quarter. Redmond Asset Management LLC's holdings in Brookfield Infrastructure were worth $1,289,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new position in Brookfield Infrastructure in the first quarter worth approximately $29,000. First PREMIER Bank purchased a new stake in shares of Brookfield Infrastructure during the 1st quarter worth approximately $30,000. Trust Co. of Vermont purchased a new stake in shares of Brookfield Infrastructure during the 1st quarter worth approximately $34,000. First Horizon Advisors Inc. lifted its position in shares of Brookfield Infrastructure by 104.1% during the 1st quarter. First Horizon Advisors Inc. now owns 1,198 shares of the company's stock worth $43,000 after buying an additional 611 shares during the last quarter. Finally, Transce3nd LLC acquired a new position in shares of Brookfield Infrastructure in the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 70.38% of the company's stock.

Brookfield Infrastructure Stock Down 0.1%

Shares of BIPC stock traded down $0.03 during trading hours on Tuesday, hitting $38.81. 470,655 shares of the company were exchanged, compared to its average volume of 647,501. Brookfield Infrastructure Co. has a 1 year low of $32.08 and a 1 year high of $45.29. The firm has a fifty day moving average of $40.95 and a 200 day moving average of $39.11. The firm has a market cap of $4.62 billion, a PE ratio of 26.95 and a beta of 1.39.

Brookfield Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 annualized dividend and a yield of 4.4%. Brookfield Infrastructure's dividend payout ratio (DPR) is 119.44%.

Wall Street Analysts Forecast Growth

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

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.