Brookfield Infrastructure Co. $BIPC Shares Sold by Maryland State Retirement & Pension System

Key Points

• Maryland State Retirement & Pension System reduced its stake in Brookfield Infrastructure by 20.6% in the first quarter, selling 27,977 shares and leaving it with 107,589 shares valued at about $4.25 million.
• Other institutional investors were mixed on the stock, with some adding small positions while institutional ownership remained high at 70.38%.
• Analyst sentiment is cautious: Brookfield Infrastructure has a consensus “Sell” rating and an average price target of $46, while shares recently traded at $40.43.

Maryland State Retirement & Pension System cut its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 20.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 107,589 shares of the company's stock after selling 27,977 shares during the period. Maryland State Retirement & Pension System owned 0.09% of Brookfield Infrastructure worth $4,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BIPC. Caitong International Asset Management Co. Ltd boosted its holdings in Brookfield Infrastructure by 1,125.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 576 shares of the company's stock valued at $26,000 after acquiring an additional 529 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in 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 acquiring an additional 548 shares during the last quarter. Motiv8 Investments LLC acquired a new stake in Brookfield Infrastructure during the fourth quarter worth about $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Brookfield Infrastructure in the 4th quarter worth about $42,000. Finally, Johnson Financial Group Inc. raised its holdings in shares of Brookfield Infrastructure by 260.7% in the 3rd quarter. Johnson Financial Group Inc. now owns 1,147 shares of the company's stock worth $47,000 after purchasing an additional 829 shares during the period. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BIPC has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Brookfield Infrastructure in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Brookfield Infrastructure from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Finally, Morgan Stanley lifted their price target on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "underweight" rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, Brookfield Infrastructure presently has a consensus rating of "Sell" and an average price target of $46.00.

Brookfield Infrastructure Price Performance

NYSE:BIPC opened at $40.43 on Thursday. The business's 50-day moving average is $40.16 and its two-hundred day moving average is $42.97. The firm has a market capitalization of $4.97 billion, a PE ratio of 30.85 and a beta of 1.32. Brookfield Infrastructure Co. has a 12 month low of $34.18 and a 12 month high of $51.72.

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.

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