The Manufacturers Life Insurance Company Has $3.36 Million Stake in Brookfield Infrastructure Co. $BIPC

Key Points

• The Manufacturers Life Insurance Company cut its Brookfield Infrastructure stake by 25.4% in the first quarter, selling 29,023 shares and retaining 85,080 shares valued at approximately $3.36 million. Institutional investors collectively own 70.38% of the company.
• Brookfield Infrastructure shares opened at $39.37, down 0.7%, with a 12-month range of $34.18 to $51.72. The company reported quarterly revenue of $940 million and a loss of $0.56 per share.
• Analyst sentiment remains negative: MarketBeat reports an average rating of “Sell” and a consensus price target of $48, including Morgan Stanley’s “underweight” rating and Weiss Ratings’ “sell” rating.

The Manufacturers Life Insurance Company decreased its holdings in Brookfield Infrastructure Co. (NYSE:BIPC - Free Report) by 25.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,080 shares of the company's stock after selling 29,023 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Brookfield Infrastructure worth $3,360,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd increased its stake in shares of Brookfield Infrastructure by 1,125.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 576 shares of the company's stock valued at $26,000 after buying an additional 529 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Brookfield Infrastructure by 338.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the company's stock worth $26,000 after buying an additional 548 shares in the last quarter. Motiv8 Investments LLC bought a new stake in Brookfield Infrastructure during the 4th quarter worth about $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Brookfield Infrastructure during the 4th quarter worth about $42,000. Finally, Johnson Financial Group Inc. increased its position in Brookfield Infrastructure by 260.7% in the 3rd quarter. Johnson Financial Group Inc. now owns 1,147 shares of the company's stock valued at $47,000 after acquiring an additional 829 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company's stock.

Brookfield Infrastructure Stock Down 0.7%

Shares of Brookfield Infrastructure stock opened at $39.37 on Friday. Brookfield Infrastructure Co. has a 12 month low of $34.18 and a 12 month high of $51.72. The business has a fifty day simple moving average of $40.21 and a 200 day simple moving average of $42.53. The stock has a market cap of $4.84 billion, a PE ratio of 30.85 and a beta of 1.32.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Morgan Stanley reiterated an "underweight" rating and set a $48.00 target price on shares of Brookfield Infrastructure in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of Brookfield Infrastructure from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Brookfield Infrastructure in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of "Sell" and a consensus price target of $48.00.

About Brookfield Infrastructure

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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