Principal Financial Group Inc. Acquires 236,355 Shares of Brookfield Infrastructure Co. (NASDAQ:BIPC)

Principal Financial Group Inc. boosted its holdings in Brookfield Infrastructure Co. (NASDAQ:BIPC) by 9.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,872,954 shares of the company’s stock after buying an additional 236,355 shares during the quarter. Principal Financial Group Inc. owned 2.18% of Brookfield Infrastructure worth $96,704,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. HBC Financial Services PLLC bought a new position in Brookfield Infrastructure during the first quarter valued at approximately $29,000. Heritage Wealth Advisors bought a new stake in shares of Brookfield Infrastructure in the fourth quarter worth $33,000. SRS Capital Advisors Inc. increased its position in Brookfield Infrastructure by 413.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,021 shares of the company’s stock valued at $36,000 after acquiring an additional 822 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in Brookfield Infrastructure in the first quarter valued at about $68,000. Finally, Lazard Asset Management LLC purchased a new position in Brookfield Infrastructure in the first quarter worth about $73,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Up 0.1 %

NASDAQ BIPC opened at $40.71 on Friday. The firm has a market capitalization of $5.37 billion, a P/E ratio of 28.27 and a beta of 1.44. The company has a 50-day moving average price of $37.20 and a 200-day moving average price of $34.99. Brookfield Infrastructure Co. has a 52 week low of $25.48 and a 52 week high of $41.58.

Brookfield Infrastructure Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, August 30th. Brookfield Infrastructure’s payout ratio is 112.50%.

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.