Intech Investment Management LLC Sells 18,324 Shares of Brookfield Infrastructure Co. $BIPC

Intech Investment Management LLC decreased its position in Brookfield Infrastructure Co. (NYSE:BIPC) by 28.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,901 shares of the company’s stock after selling 18,324 shares during the period. Intech Investment Management LLC’s holdings in Brookfield Infrastructure were worth $1,951,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Truist Financial Corp bought a new position in Brookfield Infrastructure during the second quarter valued at about $232,000. Belpointe Asset Management LLC bought a new stake in Brookfield Infrastructure in the second quarter worth about $235,000. Envestnet Portfolio Solutions Inc. purchased a new position in Brookfield Infrastructure in the second quarter valued at about $202,000. Farther Finance Advisors LLC grew its position in shares of Brookfield Infrastructure by 1,307.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 746 shares of the company’s stock valued at $31,000 after acquiring an additional 693 shares during the period. Finally, Cerity Partners LLC purchased a new stake in shares of Brookfield Infrastructure during the 1st quarter worth approximately $280,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Brookfield Infrastructure Price Performance

NYSE:BIPC opened at $44.30 on Friday. Brookfield Infrastructure Co. has a 1 year low of $32.08 and a 1 year high of $47.71. The stock’s fifty day moving average price is $43.88 and its two-hundred day moving average price is $41.59. The company has a market cap of $5.27 billion, a P/E ratio of 30.85 and a beta of 1.46.

Analysts Set New Price Targets

BIPC has been the topic of several research analyst reports. Morgan Stanley upped their price objective on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 26th. Wall Street Zen raised Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a report on Thursday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $46.00.

Brookfield Infrastructure Company Profile

Brookfield Infrastructure Corporation, together with its subsidiaries, owns and operates regulated natural gas transmission systems in Brazil. The company also engages in the regulated gas and electricity distribution operations in the United Kingdom; and electricity transmission and distribution, as well as gas distribution in Australia.