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

Principal Financial Group Inc. reduced its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 3.6% in the first quarter, HoldingsChannel.com reports. The firm owned 3,364,069 shares of the company’s stock after selling 125,906 shares during the period. Principal Financial Group Inc.’s holdings in Brookfield Infrastructure were worth $132,949,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Corrado Advisors LLC raised its stake in shares of Brookfield Infrastructure by 0.6% in the fourth quarter. Corrado Advisors LLC now owns 38,425 shares of the company’s stock worth $1,744,000 after purchasing an additional 225 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of Brookfield Infrastructure by 0.8% during the fourth quarter. Kestra Advisory Services LLC now owns 29,803 shares of the company’s stock valued at $1,353,000 after buying an additional 239 shares during the last quarter. Chapman Financial Group LLC boosted its position in shares of Brookfield Infrastructure by 3.0% during the fourth quarter. Chapman Financial Group LLC now owns 8,946 shares of the company’s stock valued at $406,000 after buying an additional 260 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in Brookfield Infrastructure by 2.4% during the fourth quarter. Benjamin Edwards Inc. now owns 11,751 shares of the company’s stock worth $534,000 after buying an additional 274 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Brookfield Infrastructure by 8.6% during the third quarter. US Bancorp DE now owns 4,136 shares of the company’s stock worth $170,000 after buying an additional 326 shares in the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BIPC has been the topic of several recent analyst reports. Wall Street Zen cut Brookfield Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Wednesday, June 24th. Finally, Morgan Stanley increased their target price 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, According to data from MarketBeat, the company presently has a consensus rating of “Sell” and a consensus target price of $46.00.

Brookfield Infrastructure Stock Up 1.8%

BIPC stock opened at $40.43 on Thursday. The firm has a market cap of $4.97 billion, a PE ratio of 30.85 and a beta of 1.32. The business has a 50 day moving average of $40.16 and a 200-day moving average of $42.97. Brookfield Infrastructure Co. has a 12-month low of $34.18 and a 12-month high of $51.72.

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.