Legal & General Group Plc Decreases Stake in Brookfield Infrastructure Co. $BIPC

Legal & General Group Plc lowered its stake in Brookfield Infrastructure Co. (NYSE:BIPC) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 348,026 shares of the company’s stock after selling 17,488 shares during the period. Legal & General Group Plc owned 0.29% of Brookfield Infrastructure worth $15,819,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIPC. AQR Capital Management LLC purchased a new position in shares of Brookfield Infrastructure in the first quarter worth $257,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Brookfield Infrastructure by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,451 shares of the company’s stock worth $2,586,000 after buying an additional 3,125 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Brookfield Infrastructure by 285.9% in the first quarter. NewEdge Advisors LLC now owns 10,250 shares of the company’s stock worth $371,000 after buying an additional 7,594 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Brookfield Infrastructure by 752.7% during the first quarter. Jones Financial Companies Lllp now owns 9,431 shares of the company’s stock worth $341,000 after purchasing an additional 8,325 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Brookfield Infrastructure by 1.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,808 shares of the company’s stock worth $37,775,000 after purchasing an additional 18,648 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on BIPC shares. Wall Street Zen cut shares of Brookfield Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Morgan Stanley raised their target price on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a report on Friday, March 27th. Two analysts have rated the stock with a Sell rating, According to MarketBeat, Brookfield Infrastructure currently has a consensus rating of “Sell” and an average target price of $46.00.

Brookfield Infrastructure Stock Performance

BIPC opened at $41.02 on Tuesday. Brookfield Infrastructure Co. has a fifty-two week low of $34.18 and a fifty-two week high of $51.72. The company has a fifty day moving average of $40.38 and a two-hundred day moving average of $44.31. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 30.85 and a beta of 1.29.

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.