Brookfield Infrastructure Co. $BIPC Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its position in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 17.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 484,395 shares of the company’s stock after selling 103,750 shares during the period. CIBC Asset Management Inc owned 0.40% of Brookfield Infrastructure worth $23,392,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of Brookfield Infrastructure by 3.2% during the third quarter. Envestnet Asset Management Inc. now owns 988,792 shares of the company’s stock worth $40,659,000 after buying an additional 30,696 shares during the period. Barnett & Company Inc. raised its stake in Brookfield Infrastructure by 54.7% during the 3rd quarter. Barnett & Company Inc. now owns 42,550 shares of the company’s stock valued at $1,750,000 after acquiring an additional 15,050 shares in the last quarter. Citigroup Inc. boosted its position in Brookfield Infrastructure by 22.4% during the 3rd quarter. Citigroup Inc. now owns 467,633 shares of the company’s stock worth $19,211,000 after acquiring an additional 85,511 shares during the period. Annex Advisory Services LLC bought a new position in shares of Brookfield Infrastructure in the fourth quarter worth $2,843,000. Finally, Vanguard Group Inc. increased its holdings in shares of Brookfield Infrastructure by 2.1% during the third quarter. Vanguard Group Inc. now owns 5,990,984 shares of the company’s stock valued at $246,108,000 after purchasing an additional 124,696 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Brookfield Infrastructure Stock Performance

BIPC opened at $41.54 on Friday. The company has a market capitalization of $5.11 billion, a PE ratio of 30.85 and a beta of 1.31. The stock’s fifty day moving average is $40.50 and its 200-day moving average is $44.22. Brookfield Infrastructure Co. has a one year low of $34.18 and a one year high of $51.72.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Brookfield Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Friday, March 27th. Finally, Morgan Stanley upped their price target on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 20th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Brookfield Infrastructure 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.