128,792 Brookfield Infrastructure Co. $BIPC Shares Sold by Parcion Private Wealth LLC

Parcion Private Wealth LLC cut its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 87.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,394 shares of the company’s stock after selling 128,792 shares during the period. Parcion Private Wealth LLC’s holdings in Brookfield Infrastructure were worth $655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BIPC. Hamilton Point Investment Advisors LLC boosted its stake in Brookfield Infrastructure by 0.3% during the 1st quarter. Hamilton Point Investment Advisors LLC now owns 113,359 shares of the company’s stock worth $4,480,000 after purchasing an additional 313 shares during the period. Bessemer Group Inc. grew its position in Brookfield Infrastructure by 3.4% during the 1st quarter. Bessemer Group Inc. now owns 9,612 shares of the company’s stock worth $380,000 after purchasing an additional 320 shares during the last quarter. Versant Capital Management Inc increased its stake in Brookfield Infrastructure by 367.8% in the third quarter. Versant Capital Management Inc now owns 697 shares of the company’s stock valued at $25,000 after purchasing an additional 548 shares during the period. Hedeker Wealth LLC increased its stake in Brookfield Infrastructure by 2.7% in the third quarter. Hedeker Wealth LLC now owns 21,619 shares of the company’s stock valued at $770,000 after purchasing an additional 565 shares during the period. Finally, Parallel Advisors LLC raised its holdings in shares of Brookfield Infrastructure by 47.4% in the first quarter. Parallel Advisors LLC now owns 1,760 shares of the company’s stock valued at $70,000 after buying an additional 566 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 $37.46 on Friday. Brookfield Infrastructure Co. has a 1 year low of $34.18 and a 1 year high of $51.72. The business has a 50 day moving average price of $37.01 and a 200 day moving average price of $41.06. The company has a market capitalization of $4.61 billion, a P/E ratio of 30.85 and a beta of 1.33.

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen raised Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings cut Brookfield Infrastructure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 8th. Finally, Morgan Stanley lowered their price objective on shares of Brookfield Infrastructure from $50.00 to $48.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 13th. Two research analysts have rated the stock with a Sell rating. According to MarketBeat, the stock currently has a consensus rating of “Sell” and an average target price of $48.00.

About Brookfield Infrastructure

Brookfield Infrastructure Corporation (NYSE: BIPC) is an infrastructure company created by Brookfield Infrastructure to provide investors with a corporate ownership structure for an interest in its global infrastructure operations. BIPC has economic exposure to the same underlying business as Brookfield Infrastructure Partners, while its shares are structured as a corporation rather than a partnership.

The company’s operations span several infrastructure sectors, including utilities, transport, midstream infrastructure and data infrastructure.