Brookfield Infrastructure Co. $BIPC Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC reduced its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 3.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,485,063 shares of the company’s stock after selling 49,095 shares during the period. CIBC Private Wealth Group LLC’s holdings in Brookfield Infrastructure were worth $61,066,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BIPC. City Holding Co. purchased a new stake in Brookfield Infrastructure in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised its stake in Brookfield Infrastructure by 338.3% during the first quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock worth $26,000 after purchasing an additional 548 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Brookfield Infrastructure by 374.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 812 shares of the company’s stock valued at $34,000 after purchasing an additional 641 shares during the last quarter. Parvin Asset Management LLC acquired a new position in shares of Brookfield Infrastructure in the 2nd quarter valued at $36,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Brookfield Infrastructure during the 3rd quarter valued at $39,000. 70.38% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Stock Performance

BIPC stock opened at $41.29 on Thursday. Brookfield Infrastructure Co. has a 1 year low of $32.08 and a 1 year high of $51.72. The firm has a market cap of $4.96 billion, a P/E ratio of 30.85 and a beta of 1.36. The stock has a 50-day simple moving average of $47.25 and a 200-day simple moving average of $45.22.

Analyst Upgrades and Downgrades

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

Brookfield Infrastructure Profile

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.