Brookfield Infrastructure Co. $BIPC Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its position in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 20.6% during the first quarter, HoldingsChannel reports. The firm owned 107,589 shares of the company’s stock after selling 27,977 shares during the period. Maryland State Retirement & Pension System’s holdings in Brookfield Infrastructure were worth $4,252,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Brookfield Infrastructure in the fourth quarter valued at $71,014,000. Morgan Stanley increased its stake in Brookfield Infrastructure by 33.3% during the 4th quarter. Morgan Stanley now owns 4,165,872 shares of the company’s stock worth $189,131,000 after buying an additional 1,041,474 shares during the period. Bank of Montreal Can lifted its holdings in Brookfield Infrastructure by 10.3% in the 4th quarter. Bank of Montreal Can now owns 5,289,204 shares of the company’s stock worth $240,120,000 after buying an additional 492,354 shares in the last quarter. Bank of America Corp DE lifted its holdings in Brookfield Infrastructure by 10.3% in the 3rd quarter. Bank of America Corp DE now owns 4,346,550 shares of the company’s stock worth $178,730,000 after buying an additional 406,485 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Brookfield Infrastructure by 73.4% in the 4th quarter. Barclays PLC now owns 911,482 shares of the company’s stock worth $41,381,000 after buying an additional 385,700 shares in the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on BIPC. Weiss Ratings restated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Wednesday, June 24th. Wall Street Zen cut Brookfield Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Morgan Stanley increased their price target on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell” and a consensus target price of $46.00.

Brookfield Infrastructure Price Performance

BIPC opened at $40.43 on Thursday. Brookfield Infrastructure Co. has a 12-month low of $34.18 and a 12-month high of $51.72. The stock has a market capitalization of $4.97 billion, a PE ratio of 30.85 and a beta of 1.32. The firm’s fifty day moving average price is $40.16 and its 200 day moving average price is $42.97.

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.