Charles Schwab Investment Management Inc. trimmed its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 619,929 shares of the company's stock after selling 13,366 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.52% of Brookfield Infrastructure worth $22,409,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Avalon Trust Co increased its position in Brookfield Infrastructure by 1.8% in the first quarter. Avalon Trust Co now owns 195,835 shares of the company's stock worth $7,087,000 after purchasing an additional 3,463 shares during the last quarter. Scotia Capital Inc. grew its holdings in Brookfield Infrastructure by 4.6% during the 1st quarter. Scotia Capital Inc. now owns 1,304,699 shares of the company's stock worth $46,272,000 after acquiring an additional 57,692 shares in the last quarter. Bank of Nova Scotia raised its holdings in Brookfield Infrastructure by 3.3% in the first quarter. Bank of Nova Scotia now owns 162,232 shares of the company's stock worth $5,860,000 after purchasing an additional 5,130 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Brookfield Infrastructure by 81.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,521 shares of the company's stock valued at $779,000 after purchasing an additional 9,658 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Brookfield Infrastructure in the 1st quarter valued at approximately $769,000. Hedge funds and other institutional investors own 70.38% of the company's stock.
Brookfield Infrastructure Price Performance
Shares of Brookfield Infrastructure stock traded up $0.52 on Tuesday, reaching $40.28. 190,199 shares of the company were exchanged, compared to its average volume of 641,472. Brookfield Infrastructure Co. has a 1-year low of $32.08 and a 1-year high of $45.29. The company has a market cap of $4.80 billion, a P/E ratio of 27.97 and a beta of 1.39. The stock's 50 day moving average price is $40.75 and its 200-day moving average price is $39.04.
Brookfield Infrastructure Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure's dividend payout ratio is 119.44%.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on BIPC shares. Wall Street Zen downgraded shares of Brookfield Infrastructure from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Morgan Stanley lifted 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 note on Tuesday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $46.00.
Check Out Our Latest Report on BIPC
Brookfield Infrastructure Company Profile
(
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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