Fenimore Asset Management Inc trimmed its position in Brookfield Infrastructure Co. (NYSE:BIPC – Free Report) by 56.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,867 shares of the company’s stock after selling 204,311 shares during the period. Fenimore Asset Management Inc’s holdings in Brookfield Infrastructure were worth $5,657,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in 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 period. Caitong International Asset Management Co. Ltd increased its stake in Brookfield Infrastructure by 1,125.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 576 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the last quarter. Compass Financial Management LLC purchased a new stake in shares of Brookfield Infrastructure in the 2nd quarter valued at about $27,000. IFP Advisors Inc boosted its position in shares of Brookfield Infrastructure by 369.5% during the 2nd quarter. IFP Advisors Inc now owns 831 shares of the company’s stock valued at $32,000 after acquiring an additional 654 shares during the last quarter. Finally, Motiv8 Investments LLC bought a new stake in shares of Brookfield Infrastructure during the 4th quarter valued at about $34,000. Institutional investors own 70.38% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on BIPC. Morgan Stanley reaffirmed an “underweight” rating and issued a $50.00 target price on shares of Brookfield Infrastructure in a research note on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Monday, September 21st. Finally, Wall Street Zen upgraded Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, Brookfield Infrastructure presently has a consensus rating of “Sell” and a consensus target price of $50.00.
Brookfield Infrastructure Stock Performance
BIPC traded down $0.51 on Thursday, hitting $37.13. 1,150,549 shares of the company were exchanged, compared to its average volume of 1,037,290. The firm has a fifty day simple moving average of $37.86 and a two-hundred day simple moving average of $39.42. The stock has a market capitalization of $4.57 billion, a PE ratio of 30.85 and a beta of 1.33. Brookfield Infrastructure Co. has a 12 month low of $34.18 and a 12 month high of $51.72.
Brookfield Infrastructure (NYSE:BIPC – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.56) earnings per share for the quarter. The firm had revenue of $940.00 million during the quarter.
Brookfield Infrastructure Company Profile
Brookfield Infrastructure Corporation (NYSE: BIPC) is a global infrastructure company that owns and operates essential assets through its relationship with Brookfield Infrastructure Partners. Its portfolio is organized around utilities, transport, midstream and data infrastructure, with businesses serving industries and customers that depend on reliable infrastructure networks.
The company’s assets include electricity transmission and distribution systems, natural gas and other energy infrastructure, transportation facilities such as ports, rail and toll roads, and digital infrastructure including data centers and telecommunications networks.
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