Brookfield Infrastructure Co. $BIPC Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 94.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,129 shares of the company’s stock after selling 303,164 shares during the quarter. Hsbc Holdings PLC’s holdings in Brookfield Infrastructure were worth $867,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Brookfield Infrastructure by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 6,022,513 shares of the company’s stock valued at $273,407,000 after buying an additional 31,529 shares in the last quarter. Bank of Montreal Can raised its stake in Brookfield Infrastructure by 10.3% during the 4th quarter. Bank of Montreal Can now owns 5,289,204 shares of the company’s stock worth $240,120,000 after acquiring an additional 492,354 shares in the last quarter. Bank of America Corp DE raised its stake in Brookfield Infrastructure by 10.3% during the 3rd quarter. Bank of America Corp DE now owns 4,346,550 shares of the company’s stock worth $178,730,000 after acquiring an additional 406,485 shares in the last quarter. Morgan Stanley lifted its position in Brookfield Infrastructure by 33.3% in the fourth quarter. Morgan Stanley now owns 4,165,872 shares of the company’s stock valued at $189,131,000 after acquiring an additional 1,041,474 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Brookfield Infrastructure by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 3,489,975 shares of the company’s stock valued at $158,446,000 after acquiring an additional 71,814 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Price Performance

Shares of Brookfield Infrastructure stock opened at $39.76 on Wednesday. The firm’s fifty day simple moving average is $40.15 and its 200-day simple moving average is $43.01. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 30.85 and a beta of 1.32. Brookfield Infrastructure Co. has a 12 month low of $34.18 and a 12 month high of $51.72.

Wall Street Analyst Weigh In

BIPC has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Brookfield Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Morgan Stanley lifted their target price on Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 20th. 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 currently has a consensus rating of “Sell” and an average target price of $46.00.

Brookfield Infrastructure Company 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.