First Trust Advisors LP decreased its position in Macquarie Infrastructure Corp (NYSE:MIC) by 3.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 261,716 shares of the conglomerate’s stock after selling 8,118 shares during the period. First Trust Advisors LP owned about 0.30% of Macquarie Infrastructure worth $10,788,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of MIC. Bronfman E.L. Rothschild L.P. grew its holdings in Macquarie Infrastructure by 63.5% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 299 shares during the last quarter. Nordea Investment Management AB acquired a new stake in Macquarie Infrastructure in the fourth quarter valued at $28,000. Quad Cities Investment Group LLC grew its holdings in Macquarie Infrastructure by 128.0% in the first quarter. Quad Cities Investment Group LLC now owns 684 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 384 shares during the last quarter. Sage Capital Advisors llc acquired a new stake in Macquarie Infrastructure in the fourth quarter valued at $31,000. Finally, Advisory Services Network LLC grew its holdings in Macquarie Infrastructure by 209.6% in the fourth quarter. Advisory Services Network LLC now owns 1,548 shares of the conglomerate’s stock valued at $57,000 after purchasing an additional 1,048 shares during the last quarter. 73.86% of the stock is currently owned by institutional investors.
Shares of NYSE:MIC opened at $40.00 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.67 and a quick ratio of 1.64. Macquarie Infrastructure Corp has a 52-week low of $33.71 and a 52-week high of $47.74. The firm has a fifty day moving average of $40.80. The stock has a market capitalization of $3.41 billion, a P/E ratio of 18.87 and a beta of 1.42.
Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings data on Wednesday, May 1st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.18. Macquarie Infrastructure had a return on equity of 8.18% and a net margin of 6.93%. The business had revenue of $482.00 million for the quarter, compared to the consensus estimate of $488.00 million. Sell-side analysts forecast that Macquarie Infrastructure Corp will post 4.75 EPS for the current year.
Several research firms have weighed in on MIC. Barclays lowered Macquarie Infrastructure from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $42.00 to $40.00 in a report on Tuesday, April 16th. ValuEngine upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Zacks Investment Research upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.67.
Macquarie Infrastructure 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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