State of Wisconsin Investment Board decreased its stake in Macquarie Infrastructure Corp (NYSE:MIC) by 72.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,519 shares of the conglomerate’s stock after selling 49,882 shares during the quarter. State of Wisconsin Investment Board’s holdings in Macquarie Infrastructure were worth $782,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. lifted its stake in Macquarie Infrastructure by 570.0% in the 1st quarter. Stratos Wealth Partners LTD. now owns 3,886 shares of the conglomerate’s stock worth $144,000 after acquiring an additional 3,306 shares in the last quarter. Edgemoor Investment Advisors Inc. purchased a new stake in Macquarie Infrastructure in the 2nd quarter worth about $211,000. Villere ST Denis J & Co. LLC purchased a new stake in Macquarie Infrastructure in the 2nd quarter worth about $223,000. American Asset Management Inc. purchased a new stake in Macquarie Infrastructure in the 2nd quarter worth about $238,000. Finally, Budros Ruhlin & Roe Inc. purchased a new stake in Macquarie Infrastructure in the 1st quarter worth about $221,000. Institutional investors and hedge funds own 71.52% of the company’s stock.
MIC opened at $47.15 on Thursday. Macquarie Infrastructure Corp has a fifty-two week low of $36.20 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.41 and a quick ratio of 2.35. The stock has a market cap of $3.97 billion, a PE ratio of 18.42 and a beta of 1.24.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings results on Wednesday, August 1st. The conglomerate reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.04. Macquarie Infrastructure had a return on equity of 6.32% and a net margin of 26.49%. The company had revenue of $478.08 million during the quarter, compared to the consensus estimate of $441.10 million. research analysts forecast that Macquarie Infrastructure Corp will post 2.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Monday, August 13th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 8.48%. The ex-dividend date of this dividend was Friday, August 10th. Macquarie Infrastructure’s dividend payout ratio (DPR) is presently 156.25%.
In other news, Director Infrastructure Manag Macquarie purchased 404,519 shares of the business’s stock in a transaction dated Tuesday, June 5th. The stock was bought at an average cost of $39.01 per share, with a total value of $15,780,286.19. Following the purchase, the director now directly owns 8,072,172 shares of the company’s stock, valued at $314,895,429.72. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Liam Stewart purchased 1,470 shares of the business’s stock in a transaction dated Tuesday, August 28th. The shares were purchased at an average cost of $47.51 per share, with a total value of $69,839.70. Following the completion of the purchase, the chief financial officer now directly owns 701 shares in the company, valued at $33,304.51. The disclosure for this purchase can be found here. Insiders have bought a total of 2,872,467 shares of company stock valued at $122,882,776 over the last ninety days. Company insiders own 6.90% of the company’s stock.
Several brokerages recently issued reports on MIC. Zacks Investment Research raised Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Friday, June 22nd. Barclays increased their price objective on Macquarie Infrastructure from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 11th. SunTrust Banks set a $49.00 price objective on Macquarie Infrastructure and gave the stock a “hold” rating in a research note on Monday, July 23rd. ValuEngine downgraded Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Oppenheimer set a $60.00 price target on Macquarie Infrastructure and gave the stock a “buy” rating in a research note on Thursday, May 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $51.00.
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 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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