Brown Advisory Inc. has reduced its holdings in Brookfield Infrastructure Co. (NYSE:BIPC) by 1.5% during the second quarter of 2023. According to its latest 13F filing with the Securities and Exchange Commission, the institutional investor now owns 2,938,431 shares, having sold 45,848 shares during this period. The value of Brown Advisory’s stake in Brookfield Infrastructure was approximately $122.2 million at the close of the reporting period.
Other institutional investors have also adjusted their positions in Brookfield Infrastructure. For instance, BankPlus Wealth Management LLC increased its stake by 2.6% during the second quarter, now holding 10,708 shares valued at $445,000 after acquiring an additional 272 shares. Similarly, Tranquility Partners LLC raised its investment by 2.4%, bringing its total to 12,490 shares worth $520,000 following the purchase of 290 shares.
Rockefeller Capital Management L.P. boosted its position by 1.0%, now owning 36,773 shares valued at $1.53 million, while Marks Group Wealth Management Inc. raised its stake by 3.5%, totaling 10,357 shares worth $431,000. Harbor Capital Advisors Inc. also grew its holdings by 0.7%, now controlling 49,266 shares valued at $2.05 million. Collectively, hedge funds and institutional investors hold approximately 70.38% of Brookfield Infrastructure’s stock.
Stock Performance and Analyst Ratings
As of the latest trading session, Brookfield Infrastructure shares opened at $46.99. The company boasts a market capitalization of $5.59 billion and a price-to-earnings ratio of 30.85. 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 two-hundred-day average is at $42.01.
Equities research analysts have varied opinions on Brookfield Infrastructure. Weiss Ratings recently reaffirmed a “sell (D-)” rating for the stock. In contrast, Wall Street Zen upgraded its rating from “sell” to “hold” on September 26, 2023. Morgan Stanley set a target price of $53.00 for the stock, maintaining an “equal weight” rating. Currently, the consensus rating for Brookfield Infrastructure is classified as “Reduce,” with an average target price also at $53.00.
Company Overview
Brookfield Infrastructure Corporation, along with its subsidiaries, specializes in owning and operating regulated natural gas transmission systems primarily in Brazil. The company also engages in regulated gas and electricity distribution operations in the United Kingdom, as well as electricity transmission and distribution, and gas distribution in Australia.
For those interested in tracking further developments regarding Brookfield Infrastructure, including hedge fund positions and insider trades, resources such as HoldingsChannel.com provide comprehensive updates on the latest 13F filings.
