Burgundy Asset Management Ltd. Purchases New Position in Brookfield Infrastructure Co. $BIPC

Key Points

• Burgundy Asset Management Ltd. acquired 60,099 shares of Brookfield Infrastructure Co. worth approximately $2.17 million during the first quarter, holding about 0.05% of the company.
• Other institutional investors have also made moves, with notable stakes including First Horizon Advisors Inc. increasing its share by 104.1%, now holding 1,198 shares valued at about $43,000.
• Brookfield Infrastructure announced a quarterly dividend of $0.43, yielding 4.4%, despite having a high dividend payout ratio of 119.44%.

Burgundy Asset Management Ltd. purchased a new stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 60,099 shares of the company's stock, valued at approximately $2,173,000. Burgundy Asset Management Ltd. owned approximately 0.05% of Brookfield Infrastructure at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Brookfield Infrastructure in the first quarter valued at about $29,000. First PREMIER Bank acquired a new stake in shares of Brookfield Infrastructure in the 1st quarter worth approximately $30,000. Trust Co. of Vermont acquired a new stake in shares of Brookfield Infrastructure in the 1st quarter worth approximately $34,000. First Horizon Advisors Inc. increased its stake in Brookfield Infrastructure by 104.1% in the 1st quarter. First Horizon Advisors Inc. now owns 1,198 shares of the company's stock valued at $43,000 after purchasing an additional 611 shares in the last quarter. Finally, Transce3nd LLC acquired a new position in Brookfield Infrastructure during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 70.38% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Brookfield Infrastructure from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th.

Brookfield Infrastructure Trading Up 2.8%

Shares of NYSE BIPC traded up $1.10 during midday trading on Friday, reaching $40.04. 225,705 shares of the stock were exchanged, compared to its average volume of 642,494. The stock has a 50 day moving average price of $40.80 and a 200-day moving average price of $39.09. The company has a market capitalization of $4.77 billion, a P/E ratio of 27.81 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.

Brookfield Infrastructure Dividend Announcement

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 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 dividend yield of 4.3%. Brookfield Infrastructure's dividend payout ratio (DPR) is currently 119.44%.

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.