Fifth Third Bancorp Makes New Investment in FTAI Infrastructure Inc. $FIP

Fifth Third Bancorp purchased a new position in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 372,353 shares of the company’s stock, valued at approximately $1,839,000. Fifth Third Bancorp owned approximately 0.32% of FTAI Infrastructure as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP grew its position in FTAI Infrastructure by 73.5% in the fourth quarter. Wellington Management Group LLP now owns 11,513,151 shares of the company’s stock valued at $53,076,000 after purchasing an additional 4,875,802 shares in the last quarter. Vanguard Group Inc. lifted its position in FTAI Infrastructure by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,281,484 shares of the company’s stock worth $27,387,000 after buying an additional 294,002 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of FTAI Infrastructure by 3,990.2% during the 3rd quarter. Alliancebernstein L.P. now owns 4,009,630 shares of the company’s stock worth $17,482,000 after buying an additional 3,911,600 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of FTAI Infrastructure by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,686,678 shares of the company’s stock worth $12,387,000 after buying an additional 18,421 shares during the last quarter. Finally, Royce & Associates LP grew its holdings in shares of FTAI Infrastructure by 24.4% in the 4th quarter. Royce & Associates LP now owns 2,682,778 shares of the company’s stock valued at $12,368,000 after acquiring an additional 527,000 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

FTAI Infrastructure Stock Performance

NASDAQ FIP opened at $4.50 on Thursday. The stock has a market cap of $531.72 million, a PE ratio of -1.00 and a beta of 1.76. The firm has a 50-day moving average of $4.52 and a 200-day moving average of $5.18. FTAI Infrastructure Inc. has a 52-week low of $3.90 and a 52-week high of $7.93.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.90). FTAI Infrastructure had a negative net margin of 68.58% and a negative return on equity of 147.01%. The company had revenue of $188.36 million during the quarter, compared to analyst estimates of $182.41 million. The company’s quarterly revenue was up 95.8% on a year-over-year basis.

FTAI Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, May 18th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, May 18th. FTAI Infrastructure’s dividend payout ratio is currently -2.66%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen lowered FTAI Infrastructure from a “sell” rating to a “strong sell” rating in a report on Monday. Compass Point set a $12.00 price target on FTAI Infrastructure in a research report on Tuesday, June 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of FTAI Infrastructure in a research note on Friday, June 12th. JonesTrading initiated coverage on FTAI Infrastructure in a report on Wednesday, July 1st. They issued a “buy” rating and a $8.75 price objective for the company. Finally, Citizens Jmp started coverage on shares of FTAI Infrastructure in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $10.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.94.

Insiders Place Their Bets

In other news, CFO Carl Russell Iv Fletcher bought 10,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was bought at an average price of $4.58 per share, with a total value of $45,800.00. Following the completion of the acquisition, the chief financial officer owned 40,000 shares of the company’s stock, valued at $183,200. This represents a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.40% of the stock is owned by insiders.

FTAI Infrastructure Profile

FTAI Infrastructure Ltd (NASDAQ: FIP) is a closed-end investment company that acquires and manages infrastructure assets offering stable, long-term cash flows. The company targets core and core-plus infrastructure sectors with contracted or regulated revenue streams, aiming to deliver attractive risk-adjusted returns for its shareholders. FTAI Infrastructure’s portfolio is diversified across multiple sub-sectors, geographies and counterparties to manage risk and capture growth opportunities in global infrastructure markets.

The company focuses on three primary investment categories: communications infrastructure, transport and logistics infrastructure, and utility infrastructure.