Los Angeles Capital Management LLC Sells 470 Shares of Brookfield Infrastructure Co. (NASDAQ:BIPC)

Los Angeles Capital Management LLC cut its stake in Brookfield Infrastructure Co. (NASDAQ:BIPC) by 1.2% in the third quarter, HoldingsChannel.com reports. The fund owned 38,468 shares of the company’s stock after selling 470 shares during the period. Los Angeles Capital Management LLC’s holdings in Brookfield Infrastructure were worth $1,672,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Brookfield Infrastructure by 20.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,728 shares of the company’s stock worth $242,000 after purchasing an additional 1,126 shares during the period. SG Americas Securities LLC boosted its position in shares of Brookfield Infrastructure by 27.9% during the first quarter. SG Americas Securities LLC now owns 15,716 shares of the company’s stock valued at $566,000 after buying an additional 3,431 shares during the period. Swiss National Bank grew its position in Brookfield Infrastructure by 0.6% in the 1st quarter. Swiss National Bank now owns 236,477 shares of the company’s stock valued at $8,517,000 after acquiring an additional 1,400 shares during the last quarter. Sei Investments Co. lifted its holdings in Brookfield Infrastructure by 22.1% during the 1st quarter. Sei Investments Co. now owns 49,424 shares of the company’s stock valued at $1,781,000 after buying an additional 8,937 shares in the last quarter. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of Brookfield Infrastructure in the first quarter valued at approximately $996,000. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Price Performance

BIPC stock opened at $42.58 on Thursday. Brookfield Infrastructure Co. has a 1-year low of $28.47 and a 1-year high of $44.26. The business has a 50-day moving average price of $42.16 and a 200 day moving average price of $38.10. The company has a market capitalization of $5.62 billion, a P/E ratio of 30.24 and a beta of 1.45.

Brookfield Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.405 per share. The ex-dividend date is Friday, November 29th. This represents a $1.62 dividend on an annualized basis and a yield of 3.80%. Brookfield Infrastructure’s payout ratio is 112.50%.

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.