Dimensional Fund Advisors LP boosted its holdings in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 12.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,654,441 shares of the conglomerate’s stock after purchasing an additional 296,939 shares during the period. Dimensional Fund Advisors LP owned approximately 3.10% of Macquarie Infrastructure worth $122,447,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Girard Partners LTD. acquired a new stake in Macquarie Infrastructure during the third quarter valued at approximately $108,000. NumerixS Investment Technologies Inc acquired a new stake in Macquarie Infrastructure during the second quarter valued at approximately $122,000. Sandy Spring Bank lifted its stake in Macquarie Infrastructure by 84.4% during the second quarter. Sandy Spring Bank now owns 4,360 shares of the conglomerate’s stock valued at $184,000 after purchasing an additional 1,995 shares during the last quarter. Comprehensive Portfolio Management LLC acquired a new stake in Macquarie Infrastructure during the third quarter valued at approximately $208,000. Finally, Private Advisor Group LLC acquired a new stake in Macquarie Infrastructure during the third quarter valued at approximately $208,000. 80.23% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Christopher Frost bought 25,160 shares of the business’s stock in a transaction on Monday, November 26th. The stock was bought at an average price of $39.73 per share, for a total transaction of $999,606.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Group Ltd Macquarie bought 40,000 shares of the business’s stock in a transaction on Monday, September 10th. The stock was bought at an average price of $46.49 per share, with a total value of $1,859,600.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 321,494 shares of company stock valued at $14,707,107. 6.90% of the stock is owned by insiders.
Shares of NYSE:MIC opened at $40.82 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.42 and a quick ratio of 1.39. The company has a market capitalization of $3.55 billion, a P/E ratio of 15.95 and a beta of 1.47. Macquarie Infrastructure Corp has a 52 week low of $36.20 and a 52 week high of $67.84.
Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings results on Wednesday, October 31st. The conglomerate reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.27). The firm had revenue of $473.28 million during the quarter, compared to analysts’ expectations of $476.20 million. Macquarie Infrastructure had a net margin of 25.26% and a return on equity of 5.81%.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 12th were given a $1.00 dividend. The ex-dividend date was Thursday, November 8th. This represents a $4.00 annualized dividend and a dividend yield of 9.80%. Macquarie Infrastructure’s dividend payout ratio (DPR) is presently 156.25%.
MIC has been the subject of several recent research reports. Oppenheimer set a $60.00 target price on shares of Macquarie Infrastructure and gave the company a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research lowered shares of Macquarie Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $51.00.
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 four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP), and MIC Hawaii. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, chemicals, renewable fuels, and vegetable and animal oils through a network of 19 marine terminals, including 17 in the United States and 2 in Canada.
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