Russell Investments Group Ltd. Buys 6,341 Shares of Brookfield Infrastructure Co. $BIPC

Russell Investments Group Ltd. boosted its holdings in Brookfield Infrastructure Co. (NYSE:BIPC) by 6.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 109,980 shares of the company’s stock after purchasing an additional 6,341 shares during the quarter. Russell Investments Group Ltd.’s holdings in Brookfield Infrastructure were worth $3,979,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BIPC. Tranquility Partners LLC increased its stake in shares of Brookfield Infrastructure by 3.0% during the 1st quarter. Tranquility Partners LLC now owns 12,200 shares of the company’s stock worth $442,000 after purchasing an additional 352 shares during the last quarter. Mariner LLC increased its stake in Brookfield Infrastructure by 1.4% in the fourth quarter. Mariner LLC now owns 26,031 shares of the company’s stock valued at $1,041,000 after acquiring an additional 370 shares during the last quarter. BankPlus Wealth Management LLC raised its position in Brookfield Infrastructure by 5.0% during the first quarter. BankPlus Wealth Management LLC now owns 10,436 shares of the company’s stock valued at $378,000 after purchasing an additional 495 shares in the last quarter. First Horizon Advisors Inc. raised its position in Brookfield Infrastructure by 104.1% during the first quarter. First Horizon Advisors Inc. now owns 1,198 shares of the company’s stock valued at $43,000 after purchasing an additional 611 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Brookfield Infrastructure by 79.1% in the first quarter. Fifth Third Bancorp now owns 1,501 shares of the company’s stock worth $54,000 after purchasing an additional 663 shares during the last quarter. Institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Price Performance

Shares of BIPC stock opened at $40.43 on Friday. The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 28.08 and a beta of 1.39. The company’s fifty day moving average price is $40.79 and its 200-day moving average price is $39.08. Brookfield Infrastructure Co. has a one year low of $32.08 and a one year high of $45.29.

Brookfield Infrastructure Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Infrastructure’s dividend payout ratio (DPR) is presently 119.44%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Brookfield Infrastructure from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th.

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.