Massachusetts Financial Services Co. MA Has $27.30 Million Stake in Brookfield Infrastructure Co. $BIPC

Massachusetts Financial Services Co. MA decreased its stake in shares of Brookfield Infrastructure Co. (NYSE:BIPC) by 3.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 601,336 shares of the company’s stock after selling 21,546 shares during the period. Massachusetts Financial Services Co. MA owned 0.50% of Brookfield Infrastructure worth $27,301,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Brookfield Infrastructure by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,990,984 shares of the company’s stock valued at $246,108,000 after acquiring an additional 124,696 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Brookfield Infrastructure by 6.1% during the 3rd quarter. Bank of Montreal Can now owns 4,796,850 shares of the company’s stock valued at $197,246,000 after acquiring an additional 274,363 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Brookfield Infrastructure by 10.3% during the 3rd quarter. Bank of America Corp DE now owns 4,346,550 shares of the company’s stock valued at $178,730,000 after acquiring an additional 406,485 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Brookfield Infrastructure by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 3,418,161 shares of the company’s stock valued at $140,557,000 after acquiring an additional 33,308 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Brookfield Infrastructure by 66.4% during the 3rd quarter. HighTower Advisors LLC now owns 2,533,525 shares of the company’s stock valued at $104,178,000 after acquiring an additional 1,011,401 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Brookfield Infrastructure Trading Down 0.2%

Shares of BIPC stock opened at $42.55 on Thursday. Brookfield Infrastructure Co. has a 12 month low of $34.38 and a 12 month high of $51.72. The stock has a 50 day moving average of $45.02 and a two-hundred day moving average of $45.22. The company has a market capitalization of $5.23 billion, a P/E ratio of 30.85 and a beta of 1.40.

Analysts Set New Price Targets

A number of research analysts have recently commented on BIPC shares. Morgan Stanley reissued an “underweight” rating and set a $45.00 price objective (down from $57.00) on shares of Brookfield Infrastructure in a report on Monday, March 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Brookfield Infrastructure in a research note on Friday, March 27th. Finally, Wall Street Zen downgraded Brookfield Infrastructure from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Brookfield Infrastructure presently has a consensus rating of “Sell” and a consensus price target of $45.00.

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.