16,483 Brookfield Infrastructure Co. $BIPC Shares Sold by Third View Private Wealth LLC

Third View Private Wealth LLC cut its stake in Brookfield Infrastructure Co. (NYSE:BIPC) by 49.6% in the 3rd quarter, Holdings Channel reports. The fund owned 16,761 shares of the company’s stock after selling 16,483 shares during the quarter. Third View Private Wealth LLC’s holdings in Brookfield Infrastructure were worth $597,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Brookfield Infrastructure by 8.2% during the 1st quarter. Royal Bank of Canada now owns 3,814,402 shares of the company’s stock valued at $150,746,000 after buying an additional 288,349 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in Brookfield Infrastructure by 8.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,010,191 shares of the company’s stock worth $76,964,000 after buying an additional 162,994 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Brookfield Infrastructure by 8.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,118,467 shares of the company’s stock worth $44,195,000 after buying an additional 83,626 shares in the last quarter. Oak Grove Capital LLC boosted its stake in Brookfield Infrastructure by 5.2% in the third quarter. Oak Grove Capital LLC now owns 753,300 shares of the company’s stock worth $26,825,000 after buying an additional 37,300 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Brookfield Infrastructure in the second quarter worth approximately $14,071,000. Institutional investors own 70.38% of the company’s stock.

Analysts Set New Price Targets

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

Brookfield Infrastructure Price Performance

NYSE BIPC opened at $38.37 on Thursday. The stock has a market capitalization of $4.72 billion, a PE ratio of 30.85 and a beta of 1.33. Brookfield Infrastructure Co. has a 1 year low of $34.18 and a 1 year high of $51.72. The business’s 50-day moving average is $36.92 and its 200 day moving average is $40.97.

About Brookfield Infrastructure

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.