Allspring Global Investments Holdings LLC Takes Position in Brookfield Infrastructure Co. $BIPC

Allspring Global Investments Holdings LLC bought a new stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 28,464 shares of the company’s stock, valued at approximately $1,125,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Brookfield Infrastructure by 1,125.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 576 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Brookfield Infrastructure by 338.3% in the 1st 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. Motiv8 Investments LLC acquired a new stake in Brookfield Infrastructure in the fourth quarter valued at approximately $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Brookfield Infrastructure in the fourth quarter valued at approximately $42,000. Finally, Johnson Financial Group Inc. raised its stake in shares of Brookfield Infrastructure by 260.7% during the third quarter. Johnson Financial Group Inc. now owns 1,147 shares of the company’s stock valued at $47,000 after purchasing an additional 829 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Analyst Upgrades and Downgrades

BIPC has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Wednesday, June 24th. Wall Street Zen lowered shares of Brookfield Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $48.00 price target on shares of Brookfield Infrastructure in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell” and an average price target of $48.00.

Brookfield Infrastructure Trading Down 0.1%

Shares of NYSE:BIPC opened at $41.53 on Monday. The firm has a market cap of $5.11 billion, a PE ratio of 30.85 and a beta of 1.32. The company has a fifty day simple moving average of $40.32 and a 200 day simple moving average of $42.74. Brookfield Infrastructure Co. has a 12-month low of $34.18 and a 12-month high of $51.72.

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.