Connor Clark & Lunn Investment Management Ltd. Sells 81,883 Shares of Brookfield Infrastructure Co. $BIPC

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Brookfield Infrastructure Co. by 55.1%, selling 81,883 shares and holding 66,781 shares worth $2.4 million at the end of the most recent quarter.
• Wall Street analysts have dropped the rating for Brookfield Infrastructure from "buy" to "hold," signaling a cautious outlook on the stock's performance.
• The company has announced a quarterly dividend of $0.43 per share, translating to an annual yield of 4.4%, although its dividend payout ratio currently stands at 119.44%.

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 55.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,781 shares of the company's stock after selling 81,883 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Brookfield Infrastructure worth $2,412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in Brookfield Infrastructure by 8.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 904,535 shares of the company's stock valued at $32,729,000 after acquiring an additional 73,659 shares during the period. Townsquare Capital LLC boosted its stake in shares of Brookfield Infrastructure by 20.4% during the 4th quarter. Townsquare Capital LLC now owns 11,053 shares of the company's stock worth $442,000 after acquiring an additional 1,870 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Brookfield Infrastructure by 5.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 38,253 shares of the company's stock worth $1,531,000 after acquiring an additional 1,906 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Brookfield Infrastructure during the 1st quarter worth $660,000. Finally, Cerity Partners LLC acquired a new stake in shares of Brookfield Infrastructure in the first quarter worth $280,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Brookfield Infrastructure Trading Up 0.8%

BIPC stock traded up $0.31 during trading on Tuesday, reaching $39.15. 98,993 shares of the stock were exchanged, compared to its average volume of 645,015. The stock has a 50 day simple moving average of $40.95 and a 200-day simple moving average of $39.11. The company has a market capitalization of $4.66 billion, a P/E ratio of 27.19 and a beta of 1.39. Brookfield Infrastructure Co. has a twelve month low of $32.08 and a twelve month high of $45.29.

Brookfield Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure's payout ratio is presently 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.