Principal Financial Group Inc. Sells 125,906 Shares of Brookfield Infrastructure Co. $BIPC

Key Points

• Principal Financial Group cut its stake in Brookfield Infrastructure by 3.6% in the first quarter, selling 125,906 shares and leaving it with 3,364,069 shares worth about $132.9 million.
• Other major institutions also adjusted holdings, with firms like Vanguard, Bank of Montreal, Bank of America, and Morgan Stanley reporting large positions in the stock. Institutional investors collectively own 70.38% of Brookfield Infrastructure.
• Wall Street sentiment remains cautious: the stock carries a consensus “Sell” rating with an average price target of $46.00, while shares recently traded at $40.43.

Principal Financial Group Inc. trimmed its holdings in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,364,069 shares of the company's stock after selling 125,906 shares during the quarter. Principal Financial Group Inc. owned about 2.74% of Brookfield Infrastructure worth $132,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Brookfield Infrastructure by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 6,022,513 shares of the company's stock worth $273,407,000 after purchasing an additional 31,529 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Brookfield Infrastructure by 10.3% during the 4th quarter. Bank of Montreal Can now owns 5,289,204 shares of the company's stock worth $240,120,000 after buying an additional 492,354 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Brookfield Infrastructure by 10.3% during the 3rd quarter. Bank of America Corp DE now owns 4,346,550 shares of the company's stock worth $178,730,000 after buying an additional 406,485 shares in the last quarter. Morgan Stanley grew its position in shares of Brookfield Infrastructure by 33.3% during the 4th quarter. Morgan Stanley now owns 4,165,872 shares of the company's stock worth $189,131,000 after buying an additional 1,041,474 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Brookfield Infrastructure by 2.3% during the 4th quarter. HighTower Advisors LLC now owns 2,592,739 shares of the company's stock worth $117,710,000 after buying an additional 59,214 shares during the period. Institutional investors own 70.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Brookfield Infrastructure from a "hold" rating to a "sell" rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Brookfield Infrastructure in a research note on Wednesday, June 24th. Finally, Morgan Stanley upped their price objective on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the company an "underweight" rating in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Sell" and an average price target of $46.00.

Brookfield Infrastructure Stock Up 1.8%

Shares of NYSE:BIPC opened at $40.43 on Thursday. Brookfield Infrastructure Co. has a twelve month low of $34.18 and a twelve month high of $51.72. The stock's 50 day moving average is $40.16 and its 200-day moving average is $42.97. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 30.85 and a beta of 1.32.

Brookfield Infrastructure 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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