Bessemer Group Inc. Sells 3,861 Shares of Brookfield Infrastructure Co. $BIPC

Bessemer Group Inc. lessened its stake in Brookfield Infrastructure Co. (NYSE:BIPC) by 25.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,361 shares of the company’s stock after selling 3,861 shares during the quarter. Bessemer Group Inc.’s holdings in Brookfield Infrastructure were worth $472,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BIPC. Geneos Wealth Management Inc. raised its position in Brookfield Infrastructure by 338.3% in the first quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock worth $26,000 after acquiring an additional 548 shares during the period. Farther Finance Advisors LLC raised 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 purchasing an additional 693 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Brookfield Infrastructure during the 1st quarter valued at $29,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Brookfield Infrastructure by 117.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,064 shares of the company’s stock valued at $39,000 after purchasing an additional 574 shares during the period. Finally, MAI Capital Management raised its position in shares of Brookfield Infrastructure by 273.9% during the 1st quarter. MAI Capital Management now owns 1,133 shares of the company’s stock valued at $41,000 after purchasing an additional 830 shares during the period. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Infrastructure Stock Performance

NYSE:BIPC opened at $45.33 on Monday. The company has a fifty day moving average of $42.34 and a two-hundred day moving average of $40.72. The stock has a market capitalization of $5.40 billion, a PE ratio of 30.85 and a beta of 1.45. Brookfield Infrastructure Co. has a fifty-two week low of $32.08 and a fifty-two week high of $47.71.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BIPC. Morgan Stanley lifted their price objective on shares of Brookfield Infrastructure from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 26th. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Infrastructure in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price 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.