Principal Financial Group Inc. Has $140.56 Million Stake in Brookfield Infrastructure Co. $BIPC

Principal Financial Group Inc. lifted its holdings in Brookfield Infrastructure Co. (NYSE:BIPC) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,418,161 shares of the company’s stock after acquiring an additional 33,308 shares during the period. Principal Financial Group Inc. owned approximately 2.87% of Brookfield Infrastructure worth $140,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BIPC. City Holding Co. acquired a new stake in Brookfield Infrastructure during the third quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of Brookfield Infrastructure by 338.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock worth $26,000 after buying an additional 548 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Brookfield Infrastructure by 1,307.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 746 shares of the company’s stock worth $31,000 after buying an additional 693 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Brookfield Infrastructure during the 2nd quarter worth approximately $36,000. Finally, Citizens National Bank Trust Department bought a new stake in shares of Brookfield Infrastructure in the 3rd quarter valued at $41,000. Institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Trading Up 2.0%

Brookfield Infrastructure stock opened at $48.81 on Tuesday. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 30.85 and a beta of 1.37. The firm’s fifty day moving average price is $45.71 and its two-hundred day moving average price is $43.44. Brookfield Infrastructure Co. has a 1-year low of $32.08 and a 1-year high of $49.10.

Brookfield Infrastructure Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 1st were given a $0.43 dividend. This represents a yield of 384.0%. The ex-dividend date of this dividend was Friday, November 28th.

Wall Street Analyst Weigh In

BIPC has been the topic of several research analyst reports. Wall Street Zen raised shares of Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Morgan Stanley set a $57.00 price objective on shares of Brookfield Infrastructure in a report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $57.00.

About Brookfield Infrastructure

Brookfield Infrastructure (NYSE: BIPC) is a global owner, operator and investor in essential infrastructure assets. As the corporate class of Brookfield Infrastructure Partners L.P., the company provides exposure to a diversified portfolio spanning utilities, transport, energy midstream and data infrastructure. Its holdings generate stable cash flows underpinned by regulated or long-term contracted revenue streams.

Since its formation in 2008 and U.S. listing in 2017, Brookfield Infrastructure has pursued a disciplined strategy of acquiring and managing high-quality infrastructure businesses.