The Manufacturers Life Insurance Company Trims Holdings in Brookfield Infrastructure Co. (NASDAQ:BIPC)

The Manufacturers Life Insurance Company lowered its stake in shares of Brookfield Infrastructure Co. (NASDAQ:BIPC) by 2.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 193,756 shares of the company’s stock after selling 4,953 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.15% of Brookfield Infrastructure worth $6,515,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Brookfield Infrastructure by 5.6% during the first quarter. Vanguard Group Inc. now owns 5,267,594 shares of the company’s stock worth $189,844,000 after buying an additional 279,676 shares during the period. Bank of Montreal Can grew its holdings in Brookfield Infrastructure by 3.9% during the 2nd quarter. Bank of Montreal Can now owns 4,527,120 shares of the company’s stock worth $153,880,000 after acquiring an additional 169,892 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Brookfield Infrastructure by 9.0% in the second quarter. Principal Financial Group Inc. now owns 2,872,954 shares of the company’s stock valued at $96,704,000 after buying an additional 236,355 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in Brookfield Infrastructure during the first quarter worth approximately $89,710,000. Finally, Epoch Investment Partners Inc. grew its position in shares of Brookfield Infrastructure by 6.5% in the 1st quarter. Epoch Investment Partners Inc. now owns 2,249,798 shares of the company’s stock valued at $81,083,000 after buying an additional 136,647 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Performance

Shares of NASDAQ:BIPC opened at $42.00 on Friday. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 29.17 and a beta of 1.44. The company has a 50-day simple moving average of $40.09 and a 200-day simple moving average of $36.20. Brookfield Infrastructure Co. has a one year low of $25.48 and a one year high of $43.90.

Brookfield Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.405 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.62 annualized dividend and a yield of 3.86%. Brookfield Infrastructure’s 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.