Principal Financial Group Inc. Increases Position in Brookfield Infrastructure Co. (NASDAQ:BIPC)

Principal Financial Group Inc. lifted its holdings in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,109,808 shares of the company’s stock after acquiring an additional 376,254 shares during the quarter. Principal Financial Group Inc. owned 2.61% of Brookfield Infrastructure worth $124,423,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP increased its position in shares of Brookfield Infrastructure by 42.9% during the fourth quarter. Allworth Financial LP now owns 1,320 shares of the company’s stock worth $55,000 after acquiring an additional 396 shares during the last quarter. Covestor Ltd grew its stake in Brookfield Infrastructure by 64.0% in the third quarter. Covestor Ltd now owns 3,405 shares of the company’s stock worth $148,000 after purchasing an additional 1,329 shares in the last quarter. Toth Financial Advisory Corp grew 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 worth $156,000 after purchasing an additional 1,900 shares in the last quarter. Signaturefd LLC grew its stake in Brookfield Infrastructure by 9.8% in the third quarter. Signaturefd LLC now owns 4,078 shares of the company’s stock worth $177,000 after purchasing an additional 363 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in Brookfield Infrastructure in the third quarter worth about $204,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Stock Performance

NASDAQ:BIPC opened at $42.62 on Wednesday. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 29.60 and a beta of 1.48. Brookfield Infrastructure Co. has a one year low of $28.47 and a one year high of $45.29. The stock has a 50-day simple moving average of $40.27 and a 200 day simple moving average of $41.19.

Brookfield Infrastructure Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.04%. This is an increase from Brookfield Infrastructure’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, February 28th. Brookfield Infrastructure’s dividend payout ratio (DPR) is 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.