Charles Schwab Investment Management Inc. decreased its stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 619,929 shares of the company's stock after selling 13,366 shares during the period. Charles Schwab Investment Management Inc. owned 0.52% of Brookfield Infrastructure worth $22,409,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Barclays PLC raised its position in Brookfield Infrastructure by 8.3% during the 4th quarter. Barclays PLC now owns 215,089 shares of the company's stock worth $8,605,000 after buying an additional 16,518 shares during the last quarter. Mariner LLC raised its position in Brookfield Infrastructure by 1.4% during the 4th quarter. Mariner LLC now owns 26,031 shares of the company's stock worth $1,041,000 after buying an additional 370 shares during the last quarter. NewEdge Advisors LLC raised its position in Brookfield Infrastructure by 343.4% during the 4th quarter. NewEdge Advisors LLC now owns 2,656 shares of the company's stock worth $106,000 after buying an additional 2,057 shares during the last quarter. First Trust Advisors LP purchased a new position in Brookfield Infrastructure during the 4th quarter worth $1,274,000. Finally, MetLife Investment Management LLC raised its position in Brookfield Infrastructure by 90.6% during the 4th quarter. MetLife Investment Management LLC now owns 72,333 shares of the company's stock worth $2,894,000 after buying an additional 34,387 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company's stock.
Brookfield Infrastructure Stock Performance
Shares of BIPC traded up $0.23 during midday trading on Wednesday, hitting $40.55. 483,586 shares of the stock traded hands, compared to its average volume of 642,313. Brookfield Infrastructure Co. has a 1-year low of $32.08 and a 1-year high of $45.29. The business's 50 day moving average price is $40.74 and its two-hundred day moving average price is $39.05. The firm has a market capitalization of $4.83 billion, a PE ratio of 28.16 and a beta of 1.39.
Brookfield Infrastructure Dividend Announcement
The firm also recently declared 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 is Friday, August 29th. This represents a $1.72 annualized dividend and a yield of 4.2%. Brookfield Infrastructure's payout ratio is 119.44%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Brookfield Infrastructure from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Morgan Stanley raised their target price on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $46.00.
Check Out Our Latest Research Report on BIPC
About Brookfield Infrastructure
(
Free Report)
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.
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