Credit Industriel ET Commercial Purchases New Position in Brookfield Infrastructure Co. $BIPC

Credit Industriel ET Commercial bought a new position in Brookfield Infrastructure Co. (NYSE:BIPC) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 233,650 shares of the company’s stock, valued at approximately $9,234,000. Brookfield Infrastructure makes up about 0.7% of Credit Industriel ET Commercial’s portfolio, making the stock its 11th largest holding.

Several other hedge funds also recently modified their holdings of BIPC. Norges Bank acquired a new position in shares of Brookfield Infrastructure during the 4th quarter valued at about $71,014,000. Morgan Stanley lifted its holdings in Brookfield Infrastructure by 33.3% in the 4th quarter. Morgan Stanley now owns 4,165,872 shares of the company’s stock worth $189,131,000 after purchasing an additional 1,041,474 shares during the last quarter. Bank of Montreal Can lifted its holdings in Brookfield Infrastructure by 10.3% in the 4th quarter. Bank of Montreal Can now owns 5,289,204 shares of the company’s stock worth $240,120,000 after purchasing an additional 492,354 shares during the last quarter. Bank of America Corp DE boosted its position in Brookfield Infrastructure by 10.3% during the third quarter. Bank of America Corp DE now owns 4,346,550 shares of the company’s stock worth $178,730,000 after purchasing an additional 406,485 shares during the period. Finally, Barclays PLC grew its holdings in Brookfield Infrastructure by 73.4% during the fourth quarter. Barclays PLC now owns 911,482 shares of the company’s stock valued at $41,381,000 after purchasing an additional 385,700 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BIPC shares. Wall Street Zen lowered shares of Brookfield Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Wednesday, June 24th. Finally, Morgan Stanley raised their price target on Brookfield Infrastructure from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, May 20th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, Brookfield Infrastructure has a consensus rating of “Sell” and an average price target of $46.00.

Brookfield Infrastructure Stock Performance

Shares of BIPC stock opened at $39.37 on Tuesday. Brookfield Infrastructure Co. has a 1 year low of $34.18 and a 1 year high of $51.72. The firm’s fifty day simple moving average is $40.08 and its 200 day simple moving average is $43.33. The firm has a market capitalization of $4.84 billion, a P/E ratio of 30.85 and a beta of 1.32.

Brookfield Infrastructure Company Profile

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.