Man Group plc boosted its position in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) by 2,251.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,960 shares of the company’s stock after buying an additional 121,560 shares during the quarter. Man Group plc owned 0.28% of Brookfield Infrastructure worth $9,696,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC boosted its stake in Brookfield Infrastructure by 20.2% during the first quarter. Truvestments Capital LLC now owns 19,752 shares of the company’s stock valued at $1,508,000 after buying an additional 3,318 shares in the last quarter. CIBC World Markets Inc. boosted its stake in Brookfield Infrastructure by 3.7% during the first quarter. CIBC World Markets Inc. now owns 140,096 shares of the company’s stock valued at $10,699,000 after buying an additional 5,042 shares in the last quarter. LPL Financial LLC boosted its stake in Brookfield Infrastructure by 12.2% during the fourth quarter. LPL Financial LLC now owns 13,305 shares of the company’s stock valued at $962,000 after buying an additional 1,445 shares in the last quarter. Gilbert & Cook Inc. bought a new position in Brookfield Infrastructure during the first quarter valued at about $250,000. Finally, Norges Bank bought a new position in Brookfield Infrastructure during the fourth quarter valued at about $28,353,000.
Separately, Zacks Investment Research raised Brookfield Infrastructure from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 27th.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 30th. Stockholders of record on Monday, May 31st were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Thursday, May 27th. Brookfield Infrastructure’s dividend payout ratio is 141.67%.
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. It operates approximately 2,000 kilometers of natural gas transportation pipelines in the states of Rio de Janeiro, Sao Paulo, and Minas Gerais; and 3.6 million gas and electricity connections and 1.5 million installed smart meters in the United Kingdom.
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