Fenimore Asset Management Inc Has $19.43 Million Holdings in Brookfield Infrastructure Co. $BIPC

Fenimore Asset Management Inc cut its holdings in Brookfield Infrastructure Co. (NYSE:BIPC) by 24.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 427,910 shares of the company’s stock after selling 138,372 shares during the quarter. Fenimore Asset Management Inc’s holdings in Brookfield Infrastructure were worth $19,427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. City Holding Co. acquired a new stake in shares of Brookfield Infrastructure in the third quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised its holdings in shares of Brookfield Infrastructure by 338.3% in the first quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock valued at $26,000 after purchasing an additional 548 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Brookfield Infrastructure by 374.9% in the third quarter. Smartleaf Asset Management LLC now owns 812 shares of the company’s stock valued at $34,000 after purchasing an additional 641 shares during the last quarter. Optiver Holding B.V. bought a new position in shares of Brookfield Infrastructure in the third quarter valued at $39,000. Finally, Citizens National Bank Trust Department acquired a new position in Brookfield Infrastructure during the third quarter worth $41,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Brookfield Infrastructure Trading Up 1.2%

Shares of BIPC opened at $37.43 on Friday. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 30.85 and a beta of 1.29. Brookfield Infrastructure Co. has a 1-year low of $34.18 and a 1-year high of $51.72. The company’s fifty day simple moving average is $42.93 and its 200 day simple moving average is $44.96.

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.