Lazard Asset Management LLC Has $1.64 Million Stock Position in Brookfield Infrastructure Co. $BIPC

Lazard Asset Management LLC decreased its position in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 27.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,427 shares of the company’s stock after selling 15,319 shares during the quarter. Lazard Asset Management LLC’s holdings in Brookfield Infrastructure were worth $1,637,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Hilltop Holdings Inc. lifted its stake in shares of Brookfield Infrastructure by 5.8% in the 1st quarter. Hilltop Holdings Inc. now owns 17,829 shares of the company’s stock valued at $705,000 after acquiring an additional 982 shares during the last quarter. Modern Wealth Management LLC acquired a new position in shares of Brookfield Infrastructure in the 1st quarter valued at about $316,000. Bank of Nova Scotia boosted its holdings in shares of Brookfield Infrastructure by 19.2% during the 1st quarter. Bank of Nova Scotia now owns 94,789 shares of the company’s stock worth $3,745,000 after buying an additional 15,301 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Brookfield Infrastructure by 3.6% during the first quarter. Sei Investments Co. now owns 99,520 shares of the company’s stock valued at $3,934,000 after purchasing an additional 3,434 shares during the period. Finally, Cetera Investment Advisers grew its stake in Brookfield Infrastructure by 29.4% in the first quarter. Cetera Investment Advisers now owns 32,311 shares of the company’s stock valued at $1,275,000 after acquiring an additional 7,333 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Performance

Shares of NYSE:BIPC opened at $40.53 on Tuesday. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 30.85 and a beta of 1.32. The firm has a fifty day moving average price of $40.36 and a 200 day moving average price of $42.65. Brookfield Infrastructure Co. has a fifty-two week low of $34.18 and a fifty-two week high of $51.72.

Brookfield Infrastructure (NYSE:BIPC) last issued its earnings results on Thursday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter. The firm had revenue of $940.00 million during the quarter.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley restated an “underweight” rating and set a $48.00 price target on shares of Brookfield Infrastructure in a research note on Tuesday, July 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a report on Wednesday, June 24th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell” and an average price target of $48.00.

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.