Harbor Capital Advisors Inc. Cuts Stock Holdings in Brookfield Infrastructure Co. $BIPC

Harbor Capital Advisors Inc. lowered its position in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 76.3% in the third quarter, Holdings Channel.com reports. The fund owned 11,657 shares of the company’s stock after selling 37,609 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Brookfield Infrastructure were worth $479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. increased its position in shares of 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 in the last quarter. Farther Finance Advisors LLC lifted its holdings in Brookfield Infrastructure by 1,307.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 746 shares of the company’s stock valued at $31,000 after purchasing an additional 693 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in Brookfield Infrastructure during the 2nd quarter worth $36,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Brookfield Infrastructure by 117.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,064 shares of the company’s stock worth $39,000 after buying an additional 574 shares in the last quarter. Finally, MAI Capital Management raised its position in shares of Brookfield Infrastructure by 273.9% in the first quarter. MAI Capital Management now owns 1,133 shares of the company’s stock valued at $41,000 after buying an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Wall Street Analyst Weigh In

BIPC has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Morgan Stanley set a $53.00 target price on Brookfield Infrastructure and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Brookfield Infrastructure in a report on Monday, December 22nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $53.00.

Brookfield Infrastructure Price Performance

NYSE:BIPC opened at $46.32 on Monday. The company’s 50-day moving average is $45.50 and its two-hundred day moving average is $42.72. Brookfield Infrastructure Co. has a 1-year low of $32.08 and a 1-year high of $47.71. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 30.85 and a beta of 1.38.

Brookfield Infrastructure Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 1st will be given a $0.43 dividend. This represents a yield of 384.0%. The ex-dividend date is Friday, November 28th.

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.