RiverPark Advisors LLC raised its stake in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 34.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,600 shares of the conglomerate’s stock after acquiring an additional 9,300 shares during the quarter. RiverPark Advisors LLC’s holdings in Macquarie Infrastructure were worth $2,350,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dorsey & Whitney Trust CO LLC boosted its position in Macquarie Infrastructure by 18.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,325 shares of the conglomerate’s stock valued at $342,000 after acquiring an additional 813 shares in the last quarter. Westpac Banking Corp boosted its position in Macquarie Infrastructure by 12.2% during the 4th quarter. Westpac Banking Corp now owns 7,541 shares of the conglomerate’s stock valued at $484,000 after acquiring an additional 818 shares in the last quarter. LS Investment Advisors LLC boosted its position in Macquarie Infrastructure by 40.2% during the 4th quarter. LS Investment Advisors LLC now owns 2,908 shares of the conglomerate’s stock valued at $187,000 after acquiring an additional 834 shares in the last quarter. Wade G W & Inc. boosted its position in Macquarie Infrastructure by 18.6% during the 3rd quarter. Wade G W & Inc. now owns 6,227 shares of the conglomerate’s stock valued at $449,000 after acquiring an additional 976 shares in the last quarter. Finally, Brookstone Capital Management boosted its position in Macquarie Infrastructure by 23.2% during the 4th quarter. Brookstone Capital Management now owns 5,301 shares of the conglomerate’s stock valued at $340,000 after acquiring an additional 998 shares in the last quarter. 76.46% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on the company. ValuEngine cut Macquarie Infrastructure from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Zacks Investment Research raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Wednesday, January 17th. SunTrust Banks lowered their price objective on Macquarie Infrastructure to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 15th. Royal Bank of Canada lowered their price objective on Macquarie Infrastructure to $55.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Finally, Wells Fargo & Co reissued a “market perform” rating on shares of Macquarie Infrastructure in a research report on Friday, February 23rd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $74.25.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Wednesday, February 21st. The conglomerate reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). The business had revenue of $471.21 million during the quarter, compared to analyst estimates of $452.30 million. Macquarie Infrastructure had a return on equity of 4.83% and a net margin of 24.86%. research analysts expect that Macquarie Infrastructure Corp will post 2.25 earnings per share for the current fiscal year.
The company also recently announced a dividend, which was paid on Thursday, March 8th. Investors of record on Monday, March 5th were paid a $1.44 dividend. This is a positive change from Macquarie Infrastructure’s previous dividend of $1.11. The ex-dividend date of this dividend was Friday, March 2nd. Macquarie Infrastructure’s dividend payout ratio (DPR) is 107.26%.
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Macquarie Infrastructure Profile
Macquarie Infrastructure Corporation owns and operates a group of businesses that provide services, such as bulk liquid terminalling and handling services. The Company operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP) and MIC Hawaii. Its group of businesses also provides services, such as aircraft fueling, CP generation and utility gas services.
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