Brookfield Infrastructure Co. (NASDAQ:BIPC) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Brookfield Infrastructure Co. (NASDAQ:BIPC) by 13.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,109,808 shares of the company’s stock after buying an additional 376,254 shares during the quarter. Principal Financial Group Inc.’s holdings in Brookfield Infrastructure were worth $124,423,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BIPC. Creative Planning boosted its stake in Brookfield Infrastructure by 8.3% in the third quarter. Creative Planning now owns 28,886 shares of the company’s stock valued at $1,255,000 after acquiring an additional 2,226 shares during the period. Toth Financial Advisory Corp boosted its stake in Brookfield Infrastructure by 111.6% in the third quarter. Toth Financial Advisory Corp now owns 3,602 shares of the company’s stock valued at $156,000 after acquiring an additional 1,900 shares during the period. Copeland Capital Management LLC boosted its stake in Brookfield Infrastructure by 1.2% in the third quarter. Copeland Capital Management LLC now owns 2,081,877 shares of the company’s stock valued at $90,416,000 after acquiring an additional 23,882 shares during the period. Harbor Advisory Corp MA boosted its position in shares of Brookfield Infrastructure by 12.9% during the third quarter. Harbor Advisory Corp MA now owns 29,931 shares of the company’s stock worth $1,300,000 after buying an additional 3,413 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Brookfield Infrastructure during the third quarter worth approximately $4,194,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Infrastructure Trading Up 3.1 %

Shares of NASDAQ BIPC opened at $42.62 on Wednesday. The stock has a 50 day simple moving average of $40.27 and a 200-day simple moving average of $41.19. The company has a market cap of $5.07 billion, a PE ratio of 29.60 and a beta of 1.48. Brookfield Infrastructure Co. has a 12-month low of $28.47 and a 12-month high of $45.29.

Brookfield Infrastructure Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, February 28th. This is an increase from Brookfield Infrastructure’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a dividend yield of 4.04%. Brookfield Infrastructure’s payout ratio is currently 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.