Brookfield Infrastructure Co. $BIPC Shares Purchased by Private Management Group Inc.

Private Management Group Inc. boosted its holdings in Brookfield Infrastructure Co. (NYSE:BIPC) by 574.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 992,331 shares of the company’s stock after buying an additional 845,293 shares during the period. Private Management Group Inc.’s holdings in Brookfield Infrastructure were worth $35,337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIPC. Hamilton Point Investment Advisors LLC increased its stake in shares of Brookfield Infrastructure by 0.3% during the 1st quarter. Hamilton Point Investment Advisors LLC now owns 113,359 shares of the company’s stock valued at $4,480,000 after acquiring an additional 313 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Brookfield Infrastructure by 3.4% in the first quarter. Bessemer Group Inc. now owns 9,612 shares of the company’s stock worth $380,000 after acquiring an additional 320 shares during the last quarter. Versant Capital Management Inc grew its holdings in Brookfield Infrastructure by 367.8% in the third quarter. Versant Capital Management Inc now owns 697 shares of the company’s stock valued at $25,000 after purchasing an additional 548 shares during the period. Hedeker Wealth LLC grew its holdings in Brookfield Infrastructure by 2.7% in the third quarter. Hedeker Wealth LLC now owns 21,619 shares of the company’s stock valued at $770,000 after purchasing an additional 565 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Brookfield Infrastructure by 47.4% in the first quarter. Parallel Advisors LLC now owns 1,760 shares of the company’s stock valued at $70,000 after purchasing an additional 566 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Price Performance

Shares of NYSE:BIPC opened at $39.72 on Tuesday. The firm has a market capitalization of $4.89 billion, a PE ratio of 30.85 and a beta of 1.35. The business has a 50-day moving average of $36.91 and a two-hundred day moving average of $40.88. Brookfield Infrastructure Co. has a 12 month low of $34.18 and a 12 month high of $51.72.

Analysts Set New Price Targets

Several equities analysts recently commented on BIPC shares. Morgan Stanley dropped their price target 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. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Weiss Ratings cut shares of Brookfield Infrastructure from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, October 8th. Two equities research analysts have rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has an average rating of “Sell” and a consensus price target of $48.00.

About Brookfield Infrastructure

Brookfield Infrastructure Corporation (NYSE: BIPC) is a Canadian corporation that provides investors with exposure to Brookfield Infrastructure’s global infrastructure business. Its operations are conducted alongside Brookfield Infrastructure Partners and its subsidiaries, which own and operate essential infrastructure assets.

The business spans utilities, transportation, midstream and data infrastructure. Assets across these areas include regulated electricity and natural gas networks, railways and ports, energy pipelines and storage facilities, and communications infrastructure such as data centers, towers and fiber networks.

Brookfield Infrastructure serves markets across the Americas, Europe and Asia-Pacific.