Brookfield Infrastructure Co. $BIPC Stock Sold by Fenimore Asset Management Inc

Key Points

• Fenimore Asset Management cut its Brookfield Infrastructure stake by 56.3% in the third quarter, selling 204,311 shares and retaining 158,867 shares valued at approximately $5.7 million.
• Other institutional investors, including Royal Bank of Canada and TD Waterhouse Canada, increased their holdings, while several firms initiated new positions. Hedge funds and institutional investors collectively own 70.38% of BIPC.
• BIPC recently traded down 1.4% to $37.13, while analysts maintain a consensus “Sell” rating with a $50 price target.

Fenimore Asset Management Inc reduced its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 56.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 158,867 shares of the company's stock after selling 204,311 shares during the quarter. Fenimore Asset Management Inc owned approximately 0.13% of Brookfield Infrastructure worth $5,657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in shares of Brookfield Infrastructure in the 2nd quarter worth about $14,071,000. Royal Bank of Canada increased its holdings in Brookfield Infrastructure by 8.2% during the first quarter. Royal Bank of Canada now owns 3,814,402 shares of the company's stock worth $150,746,000 after buying an additional 288,349 shares during the last quarter. Credit Industriel ET Commercial purchased a new stake in Brookfield Infrastructure during the first quarter worth about $9,234,000. TD Waterhouse Canada Inc. raised its position in Brookfield Infrastructure by 8.8% in the second quarter. TD Waterhouse Canada Inc. now owns 2,010,191 shares of the company's stock worth $76,964,000 after acquiring an additional 162,994 shares during the period. Finally, Opal Capital LLC purchased a new position in Brookfield Infrastructure in the fourth quarter valued at about $6,402,000. Hedge funds and other institutional investors own 70.38% of the company's stock.

Brookfield Infrastructure Stock Down 1.4%

BIPC traded down $0.51 on Thursday, hitting $37.13. The company's stock had a trading volume of 1,150,549 shares, compared to its average volume of 1,037,290. Brookfield Infrastructure Co. has a 12 month low of $34.18 and a 12 month high of $51.72. The firm has a market cap of $4.57 billion, a P/E ratio of 30.85 and a beta of 1.33. The company's 50 day simple moving average is $37.86 and its 200-day simple moving average is $39.42.

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

Wall Street Analyst Weigh In

BIPC has been the subject of a number of research reports. Wall Street Zen raised shares of Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Brookfield Infrastructure in a research note on Monday, September 21st. Finally, Morgan Stanley reissued an "underweight" rating and set a $50.00 price objective on shares of Brookfield Infrastructure in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, Brookfield Infrastructure presently has a consensus rating of "Sell" and a consensus target price of $50.00.

About Brookfield Infrastructure

Brookfield Infrastructure Corporation NYSE: BIPC is a global infrastructure company that owns and operates essential assets through its relationship with Brookfield Infrastructure Partners. Its portfolio is organized around utilities, transport, midstream and data infrastructure, with businesses serving industries and customers that depend on reliable infrastructure networks.

The company's assets include electricity transmission and distribution systems, natural gas and other energy infrastructure, transportation facilities such as ports, rail and toll roads, and digital infrastructure including data centers and telecommunications networks.

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