Brookfield Infrastructure Co. (NASDAQ:BIPC) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its holdings in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) by 4.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 361,431 shares of the company’s stock after selling 18,779 shares during the period. Legal & General Group Plc’s holdings in Brookfield Infrastructure were worth $14,494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantinno Capital Management LP purchased a new stake in shares of Brookfield Infrastructure in the third quarter valued at approximately $229,000. MML Investors Services LLC purchased a new stake in Brookfield Infrastructure in the 3rd quarter worth $211,000. Public Employees Retirement System of Ohio acquired a new position in Brookfield Infrastructure during the third quarter worth $1,606,000. Barclays PLC lifted its holdings in Brookfield Infrastructure by 234.0% during the third quarter. Barclays PLC now owns 198,571 shares of the company’s stock valued at $8,622,000 after purchasing an additional 139,112 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Brookfield Infrastructure in the third quarter valued at about $204,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Up 0.1 %

BIPC stock opened at $35.51 on Wednesday. The stock has a market capitalization of $4.23 billion, a P/E ratio of 24.66 and a beta of 1.48. Brookfield Infrastructure Co. has a 52 week low of $28.47 and a 52 week high of $45.29. The firm has a 50-day simple moving average of $37.65 and a 200-day simple moving average of $40.27.

Brookfield Infrastructure Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.84%. This is a boost from Brookfield Infrastructure’s previous quarterly dividend of $0.41. Brookfield Infrastructure’s dividend payout ratio is presently 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.