Brown Advisory Inc. has decreased its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 1.5% during the second quarter of 2023. This reduction was disclosed in the firm’s recent 13F filing with the Securities and Exchange Commission. As of the end of the reporting period, Brown Advisory owned 2,938,431 shares, after selling 45,848 shares in the quarter, which valued the holdings at approximately $122.25 million.
Several other institutional investors have also adjusted their positions in Brookfield Infrastructure. BankPlus Wealth Management LLC increased its holdings by 2.6%, now owning 10,708 shares worth about $445,000 after acquiring an additional 272 shares. Tranquility Partners LLC raised its stake by 2.4%, bringing its total to 12,490 shares valued at $520,000 following the purchase of 290 shares.
Similarly, Rockefeller Capital Management L.P. lifted its position by 1.0%, now holding 36,773 shares worth $1.53 million. Marks Group Wealth Management Inc. increased its stake by 3.5%, now owning 10,357 shares valued at $431,000. Finally, Harbor Capital Advisors Inc. grew its holdings by 0.7%, owning 49,266 shares worth approximately $2.05 million. Overall, institutional investors control 70.38% of Brookfield Infrastructure’s stock.
Current Stock Performance and Analyst Ratings
As of the latest trading session, Brookfield Infrastructure shares opened at $46.99. The company currently has a market capitalization of $5.59 billion, a price-to-earnings ratio of 30.85, and a beta of 1.38. The stock has experienced a 12-month low of $32.08 and a high of $47.71. Its 50-day moving average stands at $44.79, while the 200-day moving average is at $42.01.
In recent evaluations, several analysts have shared their perspectives on Brookfield Infrastructure shares. Weiss Ratings reaffirmed a “sell (d-)” rating. Meanwhile, Wall Street Zen upgraded the stock from a “sell” to a “hold” rating on September 26, 2023. Additionally, Morgan Stanley set a target price of $53.00, assigning an “equal weight” rating. Currently, one analyst has a Hold rating while another has issued a Sell rating. According to MarketBeat, Brookfield Infrastructure has an average rating of “Reduce” and a consensus target price of $53.00.
About Brookfield Infrastructure
Brookfield Infrastructure Corporation, along with its subsidiaries, operates and owns regulated natural gas transmission systems in Brazil. The company is also involved in regulated gas and electricity distribution in the United Kingdom, as well as electricity and gas distribution in Australia. As the company continues to adapt to market changes, these strategic positions highlight its diverse operational footprint across global energy markets.
For those interested in monitoring further developments and institutional holdings related to Brookfield Infrastructure, resources such as HoldingsChannel.com offer comprehensive insights into the latest 13F filings and insider trades.
