Asset Management One Co. Ltd. boosted its position in Macquarie Infrastructure Corp (NYSE:MIC) by 33.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,542 shares of the conglomerate’s stock after purchasing an additional 18,551 shares during the period. Asset Management One Co. Ltd. owned about 0.09% of Macquarie Infrastructure worth $3,151,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in MIC. Voya Investment Management LLC lifted its stake in shares of Macquarie Infrastructure by 7.3% in the 3rd quarter. Voya Investment Management LLC now owns 13,960 shares of the conglomerate’s stock worth $551,000 after purchasing an additional 944 shares during the period. Redpoint Investment Management Pty Ltd bought a new stake in Macquarie Infrastructure during the third quarter valued at approximately $721,000. Neo Ivy Capital Management purchased a new stake in Macquarie Infrastructure during the third quarter valued at approximately $254,000. California State Teachers Retirement System increased its holdings in Macquarie Infrastructure by 0.5% during the third quarter. California State Teachers Retirement System now owns 120,377 shares of the conglomerate’s stock valued at $4,751,000 after buying an additional 631 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Macquarie Infrastructure by 11.2% during the third quarter. Point72 Asset Management L.P. now owns 15,300 shares of the conglomerate’s stock valued at $604,000 after buying an additional 1,541 shares during the last quarter. Institutional investors and hedge funds own 57.82% of the company’s stock.
NYSE MIC opened at $22.28 on Thursday. The company has a current ratio of 2.30, a quick ratio of 2.17 and a debt-to-equity ratio of 1.06. Macquarie Infrastructure Corp has a 12 month low of $12.50 and a 12 month high of $45.93. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 12.45 and a beta of 1.37. The company’s 50 day moving average is $36.55 and its two-hundred day moving average is $40.39.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings results on Tuesday, February 25th. The conglomerate reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.13). The firm had revenue of $424.00 million during the quarter, compared to the consensus estimate of $441.50 million. Macquarie Infrastructure had a return on equity of 14.29% and a net margin of 9.03%. Sell-side analysts forecast that Macquarie Infrastructure Corp will post 3.84 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Friday, March 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 17.95%. The ex-dividend date of this dividend was Thursday, March 5th. Macquarie Infrastructure’s dividend payout ratio (DPR) is 85.11%.
MIC has been the topic of several analyst reports. Wells Fargo & Co upgraded shares of Macquarie Infrastructure from an “equal weight” rating to an “overweight” rating and set a $45.00 price target on the stock in a research note on Thursday, January 9th. BMO Capital Markets lowered Macquarie Infrastructure to a “market perform” rating and reduced their price objective for the stock from $62.00 to $61.00 in a research note on Friday, February 7th. ValuEngine raised Macquarie Infrastructure from a “strong sell” rating to a “sell” rating in a report on Friday, January 31st. Royal Bank of Canada upgraded Macquarie Infrastructure from a “sector perform” rating to an “outperform” rating and lowered their target price for the company from $41.00 to $34.00 in a research report on Wednesday. Finally, TD Securities lifted their target price on Macquarie Infrastructure from $56.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $47.86.
In related news, major shareholder Group Ltd Macquarie sold 65,800 shares of the company’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $15.18, for a total value of $998,844.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 15.00% of the stock is currently owned by insiders.
Macquarie Infrastructure Company Profile
Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, specialty chemicals, renewable fuels, and vegetable and tropical oils through a network of 19 terminals, including 17 in the United States and 2 in Canada.
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