Guggenheim Capital LLC lifted its holdings in Macquarie Infrastructure Corp (NYSE:MIC) by 26.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 109,050 shares of the conglomerate’s stock after buying an additional 22,503 shares during the period. Guggenheim Capital LLC’s holdings in Macquarie Infrastructure were worth $4,672,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. West Bancorporation Inc. bought a new stake in shares of Macquarie Infrastructure in the 4th quarter worth about $26,000. Citizens Financial Group Inc RI bought a new stake in shares of Macquarie Infrastructure in the 4th quarter worth about $27,000. Duncker Streett & Co. Inc. bought a new stake in shares of Macquarie Infrastructure in the 4th quarter worth about $30,000. Moser Wealth Advisors LLC bought a new stake in shares of Macquarie Infrastructure in the 4th quarter worth about $41,000. Finally, New South Capital Management Inc. bought a new stake in shares of Macquarie Infrastructure in the 4th quarter worth about $86,000. Hedge funds and other institutional investors own 57.82% of the company’s stock.
A number of analysts have recently weighed in on MIC shares. TD Securities boosted their target price on shares of Macquarie Infrastructure from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, December 6th. BMO Capital Markets downgraded shares of Macquarie Infrastructure to a “market perform” rating and reduced their target price for the stock from $62.00 to $61.00 in a report on Friday, February 7th. Royal Bank of Canada upgraded shares of Macquarie Infrastructure from a “sector perform” rating to an “outperform” rating and reduced their target price for the stock from $41.00 to $34.00 in a report on Wednesday. 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 report on Thursday, January 9th. Finally, ValuEngine upgraded shares of Macquarie Infrastructure from a “strong sell” rating to a “sell” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.86.
Shares of NYSE:MIC opened at $22.28 on Thursday. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 12.45 and a beta of 1.37. Macquarie Infrastructure Corp has a 12 month low of $12.50 and a 12 month high of $45.93. The firm’s 50-day moving average is $36.55 and its 200 day moving average is $40.39. 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 (NYSE:MIC) last issued its quarterly earnings results on Tuesday, February 25th. The conglomerate reported $0.16 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.13). The firm had revenue of $424.00 million for the quarter, compared to the consensus estimate of $441.50 million. Macquarie Infrastructure had a net margin of 9.03% and a return on equity of 14.29%. As a group, equities analysts forecast that Macquarie Infrastructure Corp will post 3.84 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Friday, March 6th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, March 5th. This represents a $4.00 annualized dividend and a yield of 17.95%. Macquarie Infrastructure’s payout ratio is 85.11%.
In related news, major shareholder Group Ltd Macquarie sold 65,800 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $15.18, for a total transaction of $998,844.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.00% of the company’s stock.
About Macquarie Infrastructure
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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