365,491 Shares in Brookfield Infrastructure Co. $BIPC Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 365,491 shares of Brookfield Infrastructure, valued at approximately $14.1 million, giving it a 0.30% stake. Institutional investors collectively own 70.38% of the company.
• Analyst sentiment remains cautious: Brookfield Infrastructure has an average rating of “Sell” and a consensus price target of $50, although Wall Street Zen upgraded the stock to “Hold.”
• BIPC opened at $37.34, near the lower end of its $34.18–$51.72 52-week range. The company recently reported quarterly revenue of $940 million and a loss of $0.56 per share.

Bank of New York Mellon Corp acquired a new position in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 365,491 shares of the company's stock, valued at approximately $14,071,000. Bank of New York Mellon Corp owned 0.30% of Brookfield Infrastructure as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 acquiring an additional 31,529 shares during the period. Quantinno Capital Management LP boosted its position in shares of Brookfield Infrastructure by 243.0% during the 1st quarter. Quantinno Capital Management LP now owns 64,194 shares of the company's stock worth $2,536,000 after purchasing an additional 45,476 shares during the period. Strs Ohio increased its holdings in Brookfield Infrastructure by 257.6% in the 4th quarter. Strs Ohio now owns 32,900 shares of the company's stock valued at $1,494,000 after purchasing an additional 23,700 shares during the last quarter. Groupe la Francaise acquired a new stake in Brookfield Infrastructure in the 1st quarter valued at approximately $2,318,000. Finally, Royal Bank of Canada raised its position in Brookfield Infrastructure by 8.2% in the first quarter. Royal Bank of Canada now owns 3,814,402 shares of the company's stock valued at $150,746,000 after purchasing an additional 288,349 shares during the period. Institutional investors and hedge funds own 70.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings restated a "sell (d-)" rating on shares of Brookfield Infrastructure in a report on Wednesday, June 24th. Finally, Morgan Stanley restated an "underweight" rating and set a $50.00 target price on shares of Brookfield Infrastructure in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell" and a consensus target price of $50.00.

Brookfield Infrastructure Price Performance

BIPC stock opened at $37.34 on Wednesday. The firm has a market capitalization of $4.59 billion, a P/E ratio of 30.85 and a beta of 1.32. The business's 50-day moving average is $39.87 and its two-hundred day moving average is $41.50. Brookfield Infrastructure Co. has a 1 year low of $34.18 and a 1 year high of $51.72.

Brookfield Infrastructure (NYSE:BIPC - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter. The firm had revenue of $940.00 million during the quarter.

Brookfield Infrastructure 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.

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