34,600 Shares in Brookfield Infrastructure Co. $BIPC Bought by Strs Ohio

Key Points

• Strs Ohio has acquired a new position in Brookfield Infrastructure Co., investing approximately $1.25 million to purchase 34,600 shares during the first quarter of the year.
• Brookfield Infrastructure stock saw a 1.7% increase in trading, reaching $41.11, with a market capitalization of $4.89 billion and a P/E ratio of 28.55.
• The company recently announced a quarterly dividend of $0.43 per share, with an annualized yield of 4.2%, which will be paid on September 29th.

Strs Ohio purchased a new stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 34,600 shares of the company's stock, valued at approximately $1,252,000.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Brookfield Infrastructure by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 3,194,929 shares of the company's stock worth $115,624,000 after buying an additional 85,121 shares in the last quarter. Brown Advisory Inc. bought a new stake in Brookfield Infrastructure during the 1st quarter worth approximately $107,741,000. Epoch Investment Partners Inc. grew its position in Brookfield Infrastructure by 10.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,797,568 shares of the company's stock worth $65,054,000 after acquiring an additional 171,427 shares during the last quarter. HighTower Advisors LLC grew its position in Brookfield Infrastructure by 85.8% during the 1st quarter. HighTower Advisors LLC now owns 1,378,035 shares of the company's stock worth $49,871,000 after acquiring an additional 636,353 shares during the last quarter. Finally, Scotia Capital Inc. grew its position 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 during 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 recently commented on BIPC. Wall Street Zen lowered Brookfield Infrastructure from a "hold" rating to a "sell" rating in a research report on Monday, September 15th. Morgan Stanley increased their price objective on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Brookfield Infrastructure has an average rating of "Hold" and an average price target of $46.00.

Brookfield Infrastructure Price Performance

Shares of BIPC stock traded down $0.28 during trading hours on Friday, reaching $40.79. The company had a trading volume of 766,837 shares, compared to its average volume of 634,516. The company has a 50 day moving average of $40.30 and a 200 day moving average of $38.97. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 28.33 and a beta of 1.38. Brookfield Infrastructure Co. has a 1-year low of $32.08 and a 1-year high of $45.29.

Brookfield Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.2%. Brookfield Infrastructure's dividend payout ratio is 119.44%.

Brookfield Infrastructure Company 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.