Brown Advisory Inc. has reduced its stake in shares of Brookfield Infrastructure Co. (NYSE: BIPC) by 1.5% during the second quarter of 2023, as reported in its recent 13F filing with the Securities and Exchange Commission. Following the sale of 45,848 shares, the institutional investor now holds 2,938,431 shares valued at approximately $122,249,000.
Several other institutional investors have also adjusted their positions in Brookfield Infrastructure. For instance, BankPlus Wealth Management LLC increased its holdings by 2.6%, now owning 10,708 shares worth $445,000 after acquiring an additional 272 shares. Similarly, Tranquility Partners LLC raised its stake by 2.4%, bringing its total to 12,490 shares valued at $520,000 after purchasing an additional 290 shares.
Other notable changes include Rockefeller Capital Management L.P., which lifted its position by 1.0% to hold 36,773 shares valued at $1,530,000, and Marks Group Wealth Management Inc., which increased its stake by 3.5% to own 10,357 shares worth $431,000. Additionally, Harbor Capital Advisors Inc. grew its stake by 0.7%, now owning 49,266 shares valued at $2,049,000. Collectively, institutional investors own approximately 70.38% of Brookfield Infrastructure’s stock.
Stock Performance and Analyst Ratings
On Friday, Brookfield Infrastructure’s stock opened at $46.99. The company has a market capitalization of $5.59 billion, a price-to-earnings (P/E) ratio of 30.85, and a beta of 1.38. Over the past year, the stock has seen a low of $32.08 and a high of $47.71. The stock’s 50-day simple moving average stands at $44.79, while the 200-day simple moving average is at $42.01.
Recent evaluations from equity research analysts have varied. Weiss Ratings reaffirmed a “sell (D-)” rating on Brookfield Infrastructure. Conversely, Wall Street Zen upgraded the stock from a “sell” to a “hold” rating on September 26, 2023. Additionally, Morgan Stanley established a target price of $53.00 for the shares, assigning an “equal weight” rating. Currently, one analyst has rated the stock as “Hold” while another has issued a “Sell” rating. According to MarketBeat, Brookfield Infrastructure holds an average rating of “Reduce” with a consensus target price also set at $53.00.
Company Overview
Brookfield Infrastructure Corporation, along with its subsidiaries, specializes in owning and operating regulated natural gas transmission systems in Brazil. The company also manages regulated gas and electricity distribution operations in the United Kingdom, as well as electricity transmission and distribution, alongside gas distribution in Australia.
As market dynamics continue to shift, the actions of institutional investors like Brown Advisory Inc. may influence Brookfield Infrastructure’s future performance and market strategies. For further insights into hedge fund activities related to Brookfield Infrastructure, interested parties can visit HoldingsChannel.com for the latest 13F filings and insider trades.
