Redmond Asset Management LLC Boosts Stock Position in Brookfield Infrastructure Co. (NASDAQ:BIPC)

Redmond Asset Management LLC raised its stake in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,679 shares of the company’s stock after acquiring an additional 1,319 shares during the period. Redmond Asset Management LLC’s holdings in Brookfield Infrastructure were worth $1,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Ipswich Investment Management Co. Inc. raised its stake in Brookfield Infrastructure by 1.3% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 88,850 shares of the company’s stock valued at $3,555,000 after acquiring an additional 1,149 shares during the last quarter. CIBC Asset Management Inc raised its stake in Brookfield Infrastructure by 26.2% during the 4th quarter. CIBC Asset Management Inc now owns 398,141 shares of the company’s stock valued at $16,123,000 after acquiring an additional 82,548 shares during the last quarter. Sanctuary Advisors LLC raised its stake in Brookfield Infrastructure by 52.9% during the 4th quarter. Sanctuary Advisors LLC now owns 9,061 shares of the company’s stock valued at $381,000 after acquiring an additional 3,135 shares during the last quarter. Principal Financial Group Inc. raised its stake in Brookfield Infrastructure by 13.8% during the 4th quarter. Principal Financial Group Inc. now owns 3,109,808 shares of the company’s stock valued at $124,423,000 after acquiring an additional 376,254 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Brookfield Infrastructure by 42.9% during the 4th quarter. Allworth Financial LP now owns 1,320 shares of the company’s stock valued at $55,000 after acquiring an additional 396 shares during the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Trading Down 0.7 %

NASDAQ BIPC opened at $42.34 on Friday. The business’s 50 day moving average is $40.34 and its two-hundred day moving average is $41.25. Brookfield Infrastructure Co. has a 12-month low of $28.47 and a 12-month high of $45.29. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 29.40 and a beta of 1.48.

Brookfield Infrastructure Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.43 per share. This is a boost from Brookfield Infrastructure’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, February 28th. This represents a $1.72 annualized dividend and a yield of 4.06%. Brookfield Infrastructure’s payout ratio is presently 119.44%.

Brookfield Infrastructure Company 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.