Principal Financial Group Inc. Acquires 85,121 Shares of Brookfield Infrastructure Co. (NASDAQ:BIPC)

Principal Financial Group Inc. increased its position in Brookfield Infrastructure Co. (NASDAQ:BIPC - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,194,929 shares of the company's stock after purchasing an additional 85,121 shares during the quarter. Principal Financial Group Inc. owned approximately 2.68% of Brookfield Infrastructure worth $115,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BIPC. Tranquility Partners LLC grew its stake in shares of Brookfield Infrastructure by 3.0% in the 1st quarter. Tranquility Partners LLC now owns 12,200 shares of the company's stock worth $442,000 after buying an additional 352 shares during the last quarter. Mariner LLC boosted its holdings in Brookfield Infrastructure by 1.4% in the fourth quarter. Mariner LLC now owns 26,031 shares of the company's stock worth $1,041,000 after acquiring an additional 370 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Brookfield Infrastructure by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,555 shares of the company's stock worth $502,000 after acquiring an additional 398 shares during the last quarter. BankPlus Wealth Management LLC grew its stake in shares of Brookfield Infrastructure by 5.0% in the first quarter. BankPlus Wealth Management LLC now owns 10,436 shares of the company's stock worth $378,000 after acquiring an additional 495 shares during the last quarter. Finally, Greenwich Wealth Management LLC increased its holdings in shares of Brookfield Infrastructure by 7.0% during the fourth quarter. Greenwich Wealth Management LLC now owns 7,654 shares of the company's stock valued at $306,000 after acquiring an additional 500 shares in the last quarter. 70.38% of the stock is currently owned by institutional investors.

Brookfield Infrastructure Stock Up 1.0%

Shares of NASDAQ BIPC traded up $0.42 during midday trading on Friday, hitting $42.87. The stock had a trading volume of 343,321 shares, compared to its average volume of 549,593. The business's 50 day moving average is $40.00 and its 200-day moving average is $38.94. Brookfield Infrastructure Co. has a 52 week low of $32.08 and a 52 week high of $45.29. The company has a market cap of $5.10 billion, a P/E ratio of 29.77 and a beta of 1.37.

Brookfield Infrastructure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 30th were issued a $0.43 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.72 annualized dividend and a yield of 4.01%. Brookfield Infrastructure's payout ratio is 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.