Credit Industriel ET Commercial Takes $9.23 Million Position in Brookfield Infrastructure Co. $BIPC

Credit Industriel ET Commercial acquired a new position in Brookfield Infrastructure Co. (NYSE:BIPC) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 233,650 shares of the company’s stock, valued at approximately $9,234,000. Brookfield Infrastructure accounts for approximately 0.7% of Credit Industriel ET Commercial’s investment portfolio, making the stock its 11th biggest holding. Credit Industriel ET Commercial owned about 0.19% of Brookfield Infrastructure at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in shares of Brookfield Infrastructure in the first quarter valued at $257,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Brookfield Infrastructure by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,451 shares of the company’s stock worth $2,586,000 after acquiring an additional 3,125 shares during the period. NewEdge Advisors LLC raised its position in Brookfield Infrastructure by 285.9% in the first quarter. NewEdge Advisors LLC now owns 10,250 shares of the company’s stock worth $371,000 after acquiring an additional 7,594 shares in the last quarter. Jones Financial Companies Lllp raised its position in Brookfield Infrastructure by 752.7% in the first quarter. Jones Financial Companies Lllp now owns 9,431 shares of the company’s stock worth $341,000 after acquiring an additional 8,325 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Brookfield Infrastructure by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,808 shares of the company’s stock valued at $37,775,000 after acquiring an additional 18,648 shares during the last quarter. Institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Price Performance

Shares of BIPC opened at $39.37 on Tuesday. The business’s 50-day moving average is $40.08 and its 200-day moving average is $43.33. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 30.85 and a beta of 1.32. Brookfield Infrastructure Co. has a fifty-two week low of $34.18 and a fifty-two week high of $51.72.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BIPC. Morgan Stanley raised their price objective on Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Brookfield Infrastructure in a report on Wednesday, June 24th. Finally, Wall Street Zen lowered Brookfield Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell” and a consensus price target of $46.00.

About Brookfield Infrastructure

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.