Archer Capital Management L.P. bought a new position in Macquarie Infrastructure Corp (NYSE:MIC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 310,741 shares of the conglomerate’s stock, valued at approximately $19,950,000. Macquarie Infrastructure makes up about 7.7% of Archer Capital Management L.P.’s holdings, making the stock its 3rd largest position. Archer Capital Management L.P. owned about 0.37% of Macquarie Infrastructure as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. California Public Employees Retirement System lifted its stake in shares of Macquarie Infrastructure by 24.5% in the third quarter. California Public Employees Retirement System now owns 135,212 shares of the conglomerate’s stock worth $9,760,000 after buying an additional 26,612 shares in the last quarter. First Washington CORP lifted its stake in shares of Macquarie Infrastructure by 22.7% in the fourth quarter. First Washington CORP now owns 115,730 shares of the conglomerate’s stock worth $7,430,000 after buying an additional 21,410 shares in the last quarter. Berson & Corrado Investment Advisors LLC lifted its stake in shares of Macquarie Infrastructure by 33.9% in the fourth quarter. Berson & Corrado Investment Advisors LLC now owns 81,331 shares of the conglomerate’s stock worth $5,221,000 after buying an additional 20,582 shares in the last quarter. Brookstone Capital Management lifted its stake in shares of Macquarie Infrastructure by 23.2% in the fourth quarter. Brookstone Capital Management now owns 5,301 shares of the conglomerate’s stock worth $340,000 after buying an additional 998 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Macquarie Infrastructure by 10.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 331,817 shares of the conglomerate’s stock worth $21,303,000 after buying an additional 32,090 shares in the last quarter. Hedge funds and other institutional investors own 76.46% of the company’s stock.
Several research analysts have recently issued reports on MIC shares. Zacks Investment Research downgraded shares of Macquarie Infrastructure from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. cut shares of Macquarie Infrastructure from an “overweight” rating to a “neutral” rating in a report on Thursday, February 22nd. SunTrust Banks cut shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Wells Fargo & Co reissued a “market perform” rating on shares of Macquarie Infrastructure in a report on Friday, February 23rd. Finally, Alembic Global Advisors reissued a “sell” rating on shares of Macquarie Infrastructure in a report on Thursday, February 22nd. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Macquarie Infrastructure has a consensus rating of “Hold” and a consensus price target of $74.25.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings data on Wednesday, February 21st. The conglomerate reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02). Macquarie Infrastructure had a net margin of 24.86% and a return on equity of 4.83%. The company had revenue of $471.21 million for the quarter, compared to analysts’ expectations of $452.30 million. analysts anticipate that Macquarie Infrastructure Corp will post 2.25 EPS for the current fiscal year.
The business also recently disclosed a dividend, which was paid on Thursday, March 8th. Stockholders of record on Monday, March 5th were issued a dividend of $1.44 per share. This is a boost from Macquarie Infrastructure’s previous dividend of $1.11. The ex-dividend date was Friday, March 2nd. Macquarie Infrastructure’s payout ratio is presently 376.47%.
WARNING: This piece of content was reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2018/03/14/archer-capital-management-l-p-invests-19-95-million-in-macquarie-infrastructure-corp-mic.html.
About Macquarie Infrastructure
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.
Receive News & Ratings for Macquarie Infrastructure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macquarie Infrastructure and related companies with MarketBeat.com's FREE daily email newsletter.