Lord Abbett & CO. LLC Decreases Stake in Brookfield Infrastructure Co. (NASDAQ:BIPC)

Lord Abbett & CO. LLC decreased its holdings in Brookfield Infrastructure Co. (NASDAQ:BIPC) by 50.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 84,417 shares of the company’s stock after selling 84,417 shares during the period. Lord Abbett & CO. LLC’s holdings in Brookfield Infrastructure were worth $3,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Brookfield Infrastructure by 39.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,203 shares of the company’s stock valued at $579,000 after acquiring an additional 4,910 shares during the period. Raymond James & Associates increased its holdings in Brookfield Infrastructure by 13.0% in the 2nd quarter. Raymond James & Associates now owns 241,697 shares of the company’s stock valued at $8,136,000 after purchasing an additional 27,737 shares in the last quarter. Nisa Investment Advisors LLC raised its position 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 purchasing an additional 288 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Brookfield Infrastructure by 12.0% during the second quarter. Bank of New York Mellon Corp now owns 441,589 shares of the company’s stock worth $14,864,000 after purchasing an additional 47,319 shares in the last quarter. Finally, LDR Capital Management LLC boosted its position in shares of Brookfield Infrastructure by 22.2% in the second quarter. LDR Capital Management LLC now owns 81,868 shares of the company’s stock worth $2,756,000 after buying an additional 14,864 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Stock Performance

BIPC stock opened at $39.86 on Tuesday. The stock has a 50-day simple moving average of $42.90 and a 200-day simple moving average of $39.63. The firm has a market cap of $5.26 billion, a P/E ratio of 27.68 and a beta of 1.45. Brookfield Infrastructure Co. has a 1 year low of $28.47 and a 1 year high of $45.29.

Brookfield Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid 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 dividend yield of 4.06%. Brookfield Infrastructure’s dividend payout ratio is currently 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.