Brookfield Infrastructure Co. $BIPC Stock Sold by Parcion Private Wealth LLC

Key Points

• Parcion Private Wealth LLC cut its Brookfield Infrastructure stake by 87.5% in the third quarter, selling 128,792 shares and retaining 18,394 shares valued at approximately $655,000.
• Institutional ownership remains significant at 70.38%, although analyst sentiment is bearish: two analysts rate BIPC “Sell,” with an average price target of $48.00.
• BIPC opened at $37.46, near the lower end of its $34.18–$51.72 one-year range. The company reported quarterly revenue of $940 million and a loss of $0.56 per share.

Parcion Private Wealth LLC trimmed its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 87.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,394 shares of the company's stock after selling 128,792 shares during the quarter. Parcion Private Wealth LLC's holdings in Brookfield Infrastructure were worth $655,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc boosted its position in shares of 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 during the period. Compass Financial Management LLC acquired a new position in Brookfield Infrastructure during the 2nd quarter worth about $27,000. IFP Advisors Inc boosted its holdings in Brookfield Infrastructure by 369.5% during the 2nd quarter. IFP Advisors Inc now owns 831 shares of the company's stock valued at $32,000 after acquiring an additional 654 shares during the period. Gold Investment Management Ltd. boosted its holdings in Brookfield Infrastructure by 958.7% during the 3rd 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 during the period. Finally, CoreCap Advisors LLC acquired a new position in Brookfield Infrastructure in the 2nd quarter valued at about $58,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Brookfield Infrastructure Price Performance

Shares of BIPC opened at $37.46 on Friday. Brookfield Infrastructure Co. has a 1-year low of $34.18 and a 1-year high of $51.72. The stock has a market cap of $4.61 billion, a PE ratio of 30.85 and a beta of 1.33. The firm has a fifty day moving average price of $37.01 and a 200 day moving average price of $41.06.

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

Brookfield Infrastructure Company Profile

Brookfield Infrastructure Corporation NYSE: BIPC is an infrastructure company created by Brookfield Infrastructure to provide investors with a corporate ownership structure for an interest in its global infrastructure operations. BIPC has economic exposure to the same underlying business as Brookfield Infrastructure Partners, while its shares are structured as a corporation rather than a partnership.

The company's operations span several infrastructure sectors, including utilities, transport, midstream infrastructure and data infrastructure.

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