Lazard Asset Management LLC Decreases Stock Position in Brookfield Infrastructure Co. $BIPC

Lazard Asset Management LLC decreased its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 27.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,427 shares of the company’s stock after selling 15,319 shares during the quarter. Lazard Asset Management LLC’s holdings in Brookfield Infrastructure were worth $1,637,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIPC. Caitong International Asset Management Co. Ltd lifted its stake in Brookfield Infrastructure by 1,125.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 576 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the period. Geneos Wealth Management Inc. lifted its position 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 worth $26,000 after purchasing an additional 548 shares during the period. Motiv8 Investments LLC bought a new position in shares of Brookfield Infrastructure during the fourth quarter valued at approximately $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Brookfield Infrastructure during the fourth quarter valued at approximately $42,000. Finally, Johnson Financial Group Inc. raised its stake in Brookfield Infrastructure by 260.7% in the third quarter. Johnson Financial Group Inc. now owns 1,147 shares of the company’s stock worth $47,000 after buying an additional 829 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen raised Brookfield Infrastructure from a “sell” rating to a “hold” rating in a research report on Saturday. Morgan Stanley reiterated an “underweight” rating and issued a $48.00 target price on shares of Brookfield Infrastructure in a research note on Tuesday, July 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Brookfield Infrastructure in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell” and an average price target of $48.00.

Brookfield Infrastructure Price Performance

Shares of BIPC stock opened at $40.53 on Tuesday. Brookfield Infrastructure Co. has a 1-year low of $34.18 and a 1-year high of $51.72. The stock’s fifty day moving average price is $40.36 and its 200 day moving average price is $42.65. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 30.85 and a beta of 1.32.

Brookfield Infrastructure (NYSE:BIPC) last announced its earnings results on Thursday, July 30th. The company reported ($0.56) earnings per share (EPS) for the quarter. The company had revenue of $940.00 million during the quarter.

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.