Brookfield Infrastructure Co. $BIPC Stake Boosted by Federated Hermes Inc.

Federated Hermes Inc. boosted its holdings in Brookfield Infrastructure Co. (NYSE:BIPC) by 10,734.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,931 shares of the company’s stock after purchasing an additional 179,261 shares during the quarter. Federated Hermes Inc.’s holdings in Brookfield Infrastructure were worth $7,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Truist Financial Corp boosted its holdings in shares of Brookfield Infrastructure by 18.1% in the 3rd quarter. Truist Financial Corp now owns 6,587 shares of the company’s stock valued at $271,000 after buying an additional 1,010 shares during the period. CIBC Asset Management Inc lifted its holdings in Brookfield Infrastructure by 36.1% in the third quarter. CIBC Asset Management Inc now owns 588,145 shares of the company’s stock worth $24,185,000 after acquiring an additional 155,979 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Brookfield Infrastructure by 1.3% in the third quarter. International Assets Investment Management LLC now owns 31,914 shares of the company’s stock valued at $1,343,000 after acquiring an additional 400 shares during the period. BankPlus Wealth Management LLC grew its holdings in shares of Brookfield Infrastructure by 6.5% during the third quarter. BankPlus Wealth Management LLC now owns 11,408 shares of the company’s stock valued at $469,000 after purchasing an additional 700 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Brookfield Infrastructure by 5.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 21,150 shares of the company’s stock worth $940,000 after purchasing an additional 1,151 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BIPC shares. Morgan Stanley set a $57.00 price objective on Brookfield Infrastructure in a research note on Wednesday. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $57.00.

Brookfield Infrastructure Stock Performance

NYSE:BIPC opened at $47.85 on Monday. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 30.85 and a beta of 1.37. Brookfield Infrastructure Co. has a 1 year low of $32.08 and a 1 year high of $49.10. The business has a fifty day moving average of $45.61 and a 200-day moving average of $43.39.

Brookfield Infrastructure Announces Dividend

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

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.