Brookfield Infrastructure Co. $BIPC Stock: Private Management Group Inc. Raises Holdings

Key Points

• Private Management Group raised its Brookfield Infrastructure stake by 574.9% in the third quarter, adding 845,293 shares to own 992,331 shares valued at about $35.3 million.
• Institutional investors and hedge funds collectively own 70.38% of the company’s shares.
• Analyst sentiment is cautious: MarketBeat reports a consensus “Sell” rating and a $48 price target; shares opened at $39.72.

Private Management Group Inc. boosted its stake in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 574.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 992,331 shares of the company's stock after buying an additional 845,293 shares during the quarter. Private Management Group Inc. owned approximately 0.81% of Brookfield Infrastructure worth $35,337,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in Brookfield Infrastructure by 367.8% during the third quarter. Versant Capital Management Inc now owns 697 shares of the company's stock worth $25,000 after buying an additional 548 shares in the last quarter. Compass Financial Management LLC acquired a new position in shares of Brookfield Infrastructure in the second quarter worth $27,000. IFP Advisors Inc lifted its position in shares of Brookfield Infrastructure by 369.5% in the second quarter. IFP Advisors Inc now owns 831 shares of the company's stock valued at $32,000 after acquiring an additional 654 shares in the last quarter. Gold Investment Management Ltd. lifted its position in shares of Brookfield Infrastructure by 958.7% in the third quarter. Gold Investment Management Ltd. now owns 1,281 shares of the company's stock valued at $46,000 after acquiring an additional 1,160 shares in the last quarter. Finally, CoreCap Advisors LLC purchased a new stake in shares of Brookfield Infrastructure in the second quarter valued at $58,000. Institutional investors and hedge funds own 70.38% of the company's stock.

Brookfield Infrastructure Stock Performance

Shares of NYSE BIPC opened at $39.72 on Tuesday. The firm has a market cap of $4.89 billion, a P/E ratio of 30.85 and a beta of 1.35. Brookfield Infrastructure Co. has a 1 year low of $34.18 and a 1 year high of $51.72. The firm's 50 day moving average price is $36.91 and its 200 day moving average price is $40.88.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Weiss Ratings lowered Brookfield Infrastructure from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, October 8th. Wall Street Zen raised shares of Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Morgan Stanley cut their target price on shares of Brookfield Infrastructure from $50.00 to $48.00 and set an "underweight" rating for the company in a research note on Tuesday, October 13th. Two equities research analysts have rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has a consensus rating of "Sell" and a consensus target price of $48.00.

Brookfield Infrastructure Profile

Brookfield Infrastructure Corporation NYSE: BIPC is a Canadian corporation that provides investors with exposure to Brookfield Infrastructure's global infrastructure business. Its operations are conducted alongside Brookfield Infrastructure Partners and its subsidiaries, which own and operate essential infrastructure assets.

The business spans utilities, transportation, midstream and data infrastructure. Assets across these areas include regulated electricity and natural gas networks, railways and ports, energy pipelines and storage facilities, and communications infrastructure such as data centers, towers and fiber networks.

Brookfield Infrastructure serves markets across the Americas, Europe and Asia-Pacific.

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