Fishman Jay A Ltd. MI decreased its holdings in Macquarie Infrastructure Corp (NYSE:MIC) by 14.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 248,740 shares of the conglomerate’s stock after selling 40,500 shares during the quarter. Macquarie Infrastructure comprises approximately 1.8% of Fishman Jay A Ltd. MI’s portfolio, making the stock its 16th biggest holding. Fishman Jay A Ltd. MI owned about 0.29% of Macquarie Infrastructure worth $9,818,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in MIC. Nuveen Asset Management LLC raised its position in Macquarie Infrastructure by 141.6% in the second quarter. Nuveen Asset Management LLC now owns 829,424 shares of the conglomerate’s stock worth $33,625,000 after acquiring an additional 486,109 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in Macquarie Infrastructure by 49.8% in the second quarter. CIBC Private Wealth Group LLC now owns 1,177,130 shares of the conglomerate’s stock worth $47,721,000 after acquiring an additional 391,505 shares in the last quarter. Renaissance Technologies LLC raised its position in Macquarie Infrastructure by 30.9% in the second quarter. Renaissance Technologies LLC now owns 1,511,700 shares of the conglomerate’s stock worth $61,284,000 after acquiring an additional 357,200 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in Macquarie Infrastructure in the second quarter worth $10,377,000. Finally, Macquarie Group Ltd. raised its position in Macquarie Infrastructure by 1.5% in the second quarter. Macquarie Group Ltd. now owns 12,956,811 shares of the conglomerate’s stock worth $525,269,000 after acquiring an additional 195,568 shares in the last quarter. Hedge funds and other institutional investors own 57.55% of the company’s stock.
A number of research analysts have recently weighed in on the company. CIBC restated an “average” rating and issued a $56.00 price target on shares of Macquarie Infrastructure in a research report on Thursday, October 31st. National Bank Financial raised their price target on Macquarie Infrastructure from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. TD Securities dropped their price target on Macquarie Infrastructure from $57.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Barclays set a $39.00 price target on Macquarie Infrastructure and gave the company a “sell” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $50.33.
Macquarie Infrastructure stock traded down $0.11 during midday trading on Friday, reaching $40.80. 434,758 shares of the company were exchanged, compared to its average volume of 625,215. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 19.25 and a beta of 1.40. The firm’s 50-day simple moving average is $39.77 and its 200-day simple moving average is $40.05. Macquarie Infrastructure Corp has a 1 year low of $33.71 and a 1 year high of $43.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.56 and a current ratio of 2.53.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Thursday, October 31st. The conglomerate reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.35. The firm had revenue of $405.00 million during the quarter, compared to analysts’ expectations of $417.40 million. Macquarie Infrastructure had a return on equity of 12.64% and a net margin of 8.14%. On average, analysts forecast that Macquarie Infrastructure Corp will post 4.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 9.80%. The ex-dividend date is Thursday, November 7th. Macquarie Infrastructure’s dividend payout ratio is presently 188.68%.
Macquarie Infrastructure Company 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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