Federation des caisses Desjardins du Quebec Sells 251,235 Shares of Brookfield Infrastructure Co. $BIPC

Key Points

• The Federation des caisses Desjardins du Quebec has reduced its stake in Brookfield Infrastructure Co. by 35.7%, now holding approximately 452,082 shares, valued at around $16.04 million.
• Brookfield Infrastructure recently announced a $0.43 quarterly dividend, with a yield of 4.3% and a payout ratio of 119.44%.
• Analysts have given Brookfield Infrastructure an average rating of "Hold", with a target price set at $46.00, while Wall Street Zen has downgraded the stock from "hold" to "sell".

Federation des caisses Desjardins du Quebec lessened its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 35.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 452,082 shares of the company's stock after selling 251,235 shares during the period. Federation des caisses Desjardins du Quebec owned 0.38% of Brookfield Infrastructure worth $16,035,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in Brookfield Infrastructure by 8.9% in the first quarter. Envestnet Asset Management Inc. now owns 904,535 shares of the company's stock valued at $32,729,000 after buying an additional 73,659 shares during the period. GAMMA Investing LLC bought a new position in shares of Brookfield Infrastructure during the first quarter worth about $660,000. Cerity Partners LLC bought a new position in shares of Brookfield Infrastructure during the first quarter worth about $280,000. Fifth Third Bancorp grew its holdings in shares of Brookfield Infrastructure by 79.1% during the first quarter. Fifth Third Bancorp now owns 1,501 shares of the company's stock worth $54,000 after buying an additional 663 shares in the last quarter. Finally, NBC Securities Inc. grew its stake in Brookfield Infrastructure by 113,633.3% in the first quarter. NBC Securities Inc. now owns 3,412 shares of the company's stock valued at $123,000 after purchasing an additional 3,409 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BIPC. Morgan Stanley raised their price target on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 26th. Wall Street Zen upgraded Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research note on Sunday. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $46.00.

Brookfield Infrastructure Price Performance

BIPC traded up $0.17 during trading on Friday, hitting $39.91. The stock had a trading volume of 358,503 shares, compared to its average volume of 642,553. The company has a 50 day moving average price of $40.59 and a 200-day moving average price of $38.96. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 27.72 and a beta of 1.38. Brookfield Infrastructure Co. has a one year low of $32.08 and a one year high of $45.29.

Brookfield Infrastructure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a $0.43 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.72 annualized dividend and a yield of 4.3%. Brookfield Infrastructure's payout ratio is 119.44%.

Brookfield Infrastructure 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.