Principal Financial Group Inc. boosted its holdings in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 2.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,489,975 shares of the company's stock after purchasing an additional 71,814 shares during the quarter. Principal Financial Group Inc. owned 2.91% of Brookfield Infrastructure worth $158,446,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of BIPC. City Holding Co. acquired a new stake in Brookfield Infrastructure in the 3rd quarter worth about $25,000. Geneos Wealth Management Inc. raised its stake in Brookfield Infrastructure by 338.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the company's stock worth $26,000 after purchasing an additional 548 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Brookfield Infrastructure by 374.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 812 shares of the company's stock worth $34,000 after purchasing an additional 641 shares in the last quarter. Optiver Holding B.V. acquired a new stake in Brookfield Infrastructure in the 3rd quarter worth about $39,000. Finally, Citizens National Bank Trust Department acquired a new stake in Brookfield Infrastructure in the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 70.38% of the company's stock.
Brookfield Infrastructure Stock Up 2.4%
BIPC stock opened at $37.98 on Wednesday. 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 $4.67 billion, a P/E ratio of 30.85 and a beta of 1.29. The company's 50-day moving average price is $42.73 and its two-hundred day moving average price is $44.88.
Wall Street Analysts Forecast Growth
BIPC has been the subject of several analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Brookfield Infrastructure in a research note on Friday, March 27th. Wall Street Zen cut shares of Brookfield Infrastructure from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $45.00 price objective (down from $57.00) on shares of Brookfield Infrastructure in a research note on Monday, March 23rd. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Sell" and an average price target of $45.00.
Check Out Our Latest Stock Analysis on Brookfield Infrastructure
Brookfield Infrastructure Profile
(
Free Report)
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.
Further Reading
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