Brookfield Infrastructure Co. $BIPC Shares Sold by Third View Private Wealth LLC

Third View Private Wealth LLC cut its holdings in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 49.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,761 shares of the company’s stock after selling 16,483 shares during the period. Third View Private Wealth LLC’s holdings in Brookfield Infrastructure were worth $597,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. 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 valued at $25,000 after buying an additional 548 shares during the last quarter. Compass Financial Management LLC purchased a new stake in Brookfield Infrastructure in the 2nd quarter valued at $27,000. IFP Advisors Inc raised its position in Brookfield Infrastructure by 369.5% in the 2nd quarter. IFP Advisors Inc now owns 831 shares of the company’s stock valued at $32,000 after buying an additional 654 shares during the last quarter. Gold Investment Management Ltd. raised its position in Brookfield Infrastructure by 958.7% in the 3rd quarter. Gold Investment Management Ltd. now owns 1,281 shares of the company’s stock valued at $46,000 after buying an additional 1,160 shares during the last quarter. Finally, CoreCap Advisors LLC bought a new position in Brookfield Infrastructure during the 2nd quarter valued at $58,000. Institutional investors and hedge funds own 70.38% of the company’s stock.

Wall Street Analyst Weigh In

BIPC has been the subject of several analyst reports. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings cut shares of Brookfield Infrastructure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 8th. Finally, Morgan Stanley reduced their price objective on shares of Brookfield Infrastructure from $50.00 to $48.00 and set an “underweight” rating for the company in a research report on Tuesday, October 13th. Two analysts have rated the stock with a Sell rating. Based on data from MarketBeat, the company currently has a consensus rating of “Sell” and an average price target of $48.00.

Brookfield Infrastructure Price Performance

Shares of BIPC opened at $38.37 on Thursday. Brookfield Infrastructure Co. has a 1 year low of $34.18 and a 1 year high of $51.72. The stock’s fifty day moving average price is $36.92 and its two-hundred day moving average price is $40.97. The firm has a market cap of $4.72 billion, a PE ratio of 30.85 and a beta of 1.33.

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.