CIBC Asset Management Inc Purchases 155,979 Shares of Brookfield Infrastructure Co. $BIPC

CIBC Asset Management Inc boosted its holdings in Brookfield Infrastructure Co. (NYSE:BIPC) by 36.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 588,145 shares of the company’s stock after buying an additional 155,979 shares during the period. CIBC Asset Management Inc owned approximately 0.49% of Brookfield Infrastructure worth $24,185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. City Holding Co. purchased a new position in Brookfield Infrastructure during the third quarter worth about $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Brookfield Infrastructure by 338.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 710 shares of the company’s stock valued at $26,000 after acquiring an additional 548 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Brookfield Infrastructure by 1,307.5% during the second 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. Parvin Asset Management LLC bought a new stake in Brookfield Infrastructure in the 2nd quarter worth $36,000. Finally, Citizens National Bank Trust Department bought a new stake in shares of Brookfield Infrastructure in the third quarter worth about $41,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

Brookfield Infrastructure Price Performance

NYSE:BIPC opened at $45.54 on Monday. Brookfield Infrastructure Co. has a 1 year low of $32.08 and a 1 year high of $47.71. The stock’s 50 day simple moving average is $45.38 and its two-hundred day simple moving average is $43.19. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 30.85 and a beta of 1.37.

Brookfield Infrastructure Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 1st were given a $0.43 dividend. This represents a yield of 384.0%. The ex-dividend date of this dividend was Friday, November 28th.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BIPC shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Brookfield Infrastructure from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Morgan Stanley set a $53.00 target price on Brookfield Infrastructure and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Infrastructure presently has an average rating of “Reduce” and a consensus target price of $53.00.

About Brookfield Infrastructure

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.