Principal Financial Group Inc. Has $118.72 Million Holdings in Brookfield Infrastructure Co. (NASDAQ:BIPC)

Principal Financial Group Inc. cut its holdings in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC - Free Report) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,733,554 shares of the company's stock after selling 139,400 shares during the period. Principal Financial Group Inc. owned 2.07% of Brookfield Infrastructure worth $118,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BIPC. Nisa Investment Advisors LLC boosted its stake in Brookfield Infrastructure by 11.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,754 shares of the company's stock valued at $93,000 after acquiring an additional 288 shares during the last quarter. Covestor Ltd boosted its position in shares of Brookfield Infrastructure by 64.0% in the 3rd quarter. Covestor Ltd now owns 3,405 shares of the company's stock worth $148,000 after purchasing an additional 1,329 shares during the last quarter. Toth Financial Advisory Corp grew its stake in shares of Brookfield Infrastructure by 111.6% during 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 during the period. Gryphon Financial Partners LLC acquired a new stake in shares of Brookfield Infrastructure during the second quarter worth $136,000. Finally, Signaturefd LLC lifted its stake in Brookfield Infrastructure by 9.8% in the third quarter. Signaturefd LLC now owns 4,078 shares of the company's stock valued at $177,000 after buying an additional 363 shares during the period. Institutional investors own 70.38% of the company's stock.

Brookfield Infrastructure Stock Performance

BIPC traded up $1.20 during midday trading on Friday, reaching $37.73. 848,576 shares of the company were exchanged, compared to its average volume of 501,062. The stock has a market capitalization of $4.98 billion, a P/E ratio of 26.20 and a beta of 1.45. Brookfield Infrastructure Co. has a one year low of $28.47 and a one year high of $45.29. The stock's 50-day simple moving average is $42.60 and its 200 day simple moving average is $39.69.

Brookfield Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be issued a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Infrastructure's dividend payout ratio is currently 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.