Massachusetts Financial Services Co. MA Has $27.30 Million Holdings in Brookfield Infrastructure Co. $BIPC

Massachusetts Financial Services Co. MA cut its stake in Brookfield Infrastructure Co. (NYSE:BIPC) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 601,336 shares of the company’s stock after selling 21,546 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Brookfield Infrastructure were worth $27,301,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BIPC. City Holding Co. acquired a new position in shares of Brookfield Infrastructure in the 3rd quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its holdings in shares of Brookfield Infrastructure by 338.3% in 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. Smartleaf Asset Management LLC raised its holdings in shares of Brookfield Infrastructure by 374.9% in the 3rd quarter. Smartleaf Asset Management LLC now owns 812 shares of the company’s stock worth $34,000 after buying an additional 641 shares in the last quarter. Optiver Holding B.V. acquired a new position in shares of Brookfield Infrastructure in the 3rd quarter worth approximately $39,000. Finally, Citizens National Bank Trust Department acquired a new stake in Brookfield Infrastructure during the 3rd quarter valued at $41,000. 70.38% of the stock is owned by institutional investors and hedge funds.

Brookfield Infrastructure Stock Down 0.2%

NYSE:BIPC opened at $42.55 on Thursday. Brookfield Infrastructure Co. has a 12-month low of $34.38 and a 12-month high of $51.72. The firm has a market capitalization of $5.23 billion, a P/E ratio of 30.85 and a beta of 1.40. The stock’s fifty day simple moving average is $45.02 and its 200-day simple moving average is $45.22.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BIPC shares. Morgan Stanley reaffirmed an “underweight” rating and set a $45.00 price target (down from $57.00) on shares of Brookfield Infrastructure in a report on Monday, March 23rd. Wall Street Zen cut Brookfield Infrastructure from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Brookfield Infrastructure in a report on Friday, March 27th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell” and an average target price of $45.00.

Brookfield Infrastructure Company 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.