Brookfield Infrastructure Co. $BIPC Stock Holdings Lowered by CIBC Asset Management Inc

CIBC Asset Management Inc cut its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 17.6% in the 4th quarter, Holdings Channel reports. The firm owned 484,395 shares of the company’s stock after selling 103,750 shares during the period. CIBC Asset Management Inc’s holdings in Brookfield Infrastructure were worth $23,392,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in shares of Brookfield Infrastructure by 18.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 581,579 shares of the company’s stock valued at $26,404,000 after acquiring an additional 91,454 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Brookfield Infrastructure by 12.2% in the 4th quarter. Natixis Advisors LLC now owns 123,526 shares of the company’s stock worth $5,608,000 after acquiring an additional 13,424 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Brookfield Infrastructure by 292.6% during the fourth quarter. BNP Paribas Financial Markets now owns 98,115 shares of the company’s stock worth $4,454,000 after purchasing an additional 73,122 shares during the period. Norges Bank acquired a new stake in shares of Brookfield Infrastructure during the fourth quarter worth $71,014,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Brookfield Infrastructure by 12.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 7,711 shares of the company’s stock valued at $350,000 after purchasing an additional 855 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Brookfield Infrastructure Trading Up 0.5%

Shares of BIPC stock opened at $41.54 on Friday. Brookfield Infrastructure Co. has a 1-year low of $34.18 and a 1-year high of $51.72. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 30.85 and a beta of 1.31. The stock’s fifty day simple moving average is $40.50 and its 200-day simple moving average is $44.22.

Analysts Set New Price Targets

BIPC has been the topic of a number of analyst reports. Wall Street Zen cut Brookfield Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Brookfield Infrastructure in a report on Friday, March 27th. Finally, Morgan Stanley lifted their target price on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus price target of $46.00.

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.