Insider Buying: Macquarie Infrastructure (MIC) Director Acquires $4,717,711.60 in Stock

Macquarie Infrastructure (NYSE:MIC) Director Infrastructure Manag Macquarie acquired 128,548 shares of Macquarie Infrastructure stock in a transaction that occurred on Friday, May 18th. The stock was purchased at an average price of $36.70 per share, with a total value of $4,717,711.60. Following the transaction, the director now owns 6,690,969 shares of the company’s stock, valued at $245,558,562.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Infrastructure Manag Macquarie also recently made the following trade(s):

  • On Wednesday, May 23rd, Infrastructure Manag Macquarie acquired 187,320 shares of Macquarie Infrastructure stock. The stock was purchased at an average price of $38.10 per share, with a total value of $7,136,892.00.
  • On Monday, May 21st, Infrastructure Manag Macquarie acquired 430,648 shares of Macquarie Infrastructure stock. The stock was purchased at an average price of $37.36 per share, with a total value of $16,089,009.28.
  • On Monday, May 14th, Infrastructure Manag Macquarie acquired 112,700 shares of Macquarie Infrastructure stock. The stock was purchased at an average price of $38.04 per share, with a total value of $4,287,108.00.
  • On Wednesday, May 16th, Infrastructure Manag Macquarie acquired 415,926 shares of Macquarie Infrastructure stock. The stock was purchased at an average price of $37.77 per share, with a total value of $15,709,525.02.
  • On Thursday, May 10th, Infrastructure Manag Macquarie purchased 141,204 shares of Macquarie Infrastructure stock. The shares were bought at an average price of $39.02 per share, with a total value of $5,509,780.08.

MIC stock opened at $38.06 on Thursday. Macquarie Infrastructure has a 12-month low of $36.20 and a 12-month high of $79.51. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.35 and a quick ratio of 1.19. The company has a market cap of $3.23 billion, a PE ratio of 14.87 and a beta of 1.22.

Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings results on Wednesday, February 21st. The conglomerate reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). Macquarie Infrastructure had a net margin of 26.38% and a return on equity of 6.04%. The company had revenue of $471.21 million for the quarter, compared to analyst estimates of $452.30 million. analysts forecast that Macquarie Infrastructure will post 2.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 17th. Investors of record on Monday, May 14th were given a dividend of $1.00 per share. The ex-dividend date was Friday, May 11th. This represents a $4.00 annualized dividend and a dividend yield of 10.51%. Macquarie Infrastructure’s dividend payout ratio is currently 156.25%.

Institutional investors have recently modified their holdings of the stock. American International Group Inc. acquired a new position in shares of Macquarie Infrastructure during the 4th quarter worth approximately $105,000. Stratos Wealth Partners LTD. raised its position in shares of Macquarie Infrastructure by 570.0% during the 1st quarter. Stratos Wealth Partners LTD. now owns 3,886 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 3,306 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of Macquarie Infrastructure during the 4th quarter worth approximately $148,000. Cowen Prime Services LLC acquired a new position in shares of Macquarie Infrastructure during the 4th quarter worth approximately $161,000. Finally, LS Investment Advisors LLC raised its position in shares of Macquarie Infrastructure by 40.2% during the 4th quarter. LS Investment Advisors LLC now owns 2,908 shares of the conglomerate’s stock worth $187,000 after purchasing an additional 834 shares during the last quarter. Hedge funds and other institutional investors own 73.11% of the company’s stock.

MIC has been the subject of a number of research reports. Wells Fargo & Co reiterated a “market perform” rating on shares of Macquarie Infrastructure in a research report on Friday, February 23rd. SunTrust Banks set a $45.00 price target on shares of Macquarie Infrastructure and gave the company a “hold” rating in a research report on Sunday, April 22nd. Alembic Global Advisors reiterated a “sell” rating on shares of Macquarie Infrastructure in a research report on Thursday, February 22nd. Zacks Investment Research downgraded shares of Macquarie Infrastructure from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Finally, ValuEngine downgraded shares of Macquarie Infrastructure from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $57.00.

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.

Insider Buying and Selling by Quarter for Macquarie Infrastructure (NYSE:MIC)

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