Insider Buying: Macquarie Infrastructure Corp (MIC) Major Shareholder Purchases $2,718,947.53 in Stock

Share on StockTwits

Macquarie Infrastructure Corp (NYSE:MIC) major shareholder Group Ltd Macquarie purchased 58,259 shares of the firm’s stock in a transaction on Friday, August 24th. The shares were purchased at an average cost of $46.67 per share, with a total value of $2,718,947.53. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Group Ltd Macquarie also recently made the following trade(s):

  • On Thursday, August 30th, Group Ltd Macquarie purchased 177,702 shares of Macquarie Infrastructure stock. The shares were purchased at an average cost of $47.09 per share, with a total value of $8,367,987.18.
  • On Tuesday, August 28th, Group Ltd Macquarie purchased 109,307 shares of Macquarie Infrastructure stock. The shares were purchased at an average cost of $46.90 per share, with a total value of $5,126,498.30.
  • On Wednesday, August 22nd, Group Ltd Macquarie purchased 25,000 shares of Macquarie Infrastructure stock. The shares were purchased at an average cost of $46.21 per share, with a total value of $1,155,250.00.
  • On Monday, August 20th, Group Ltd Macquarie purchased 7,000 shares of Macquarie Infrastructure stock. The shares were purchased at an average cost of $45.94 per share, with a total value of $321,580.00.
  • On Friday, August 17th, Group Ltd Macquarie purchased 15,911 shares of Macquarie Infrastructure stock. The shares were purchased at an average cost of $45.77 per share, with a total value of $728,246.47.
  • On Wednesday, August 15th, Group Ltd Macquarie purchased 65,000 shares of Macquarie Infrastructure stock. The shares were purchased at an average cost of $44.77 per share, with a total value of $2,910,050.00.
  • On Monday, August 13th, Group Ltd Macquarie purchased 45,000 shares of Macquarie Infrastructure stock. The shares were purchased at an average cost of $44.50 per share, with a total value of $2,002,500.00.
  • On Thursday, August 9th, Group Ltd Macquarie purchased 66,523 shares of Macquarie Infrastructure stock. The shares were purchased at an average cost of $45.93 per share, with a total value of $3,055,401.39.
  • On Monday, August 6th, Group Ltd Macquarie acquired 126,000 shares of Macquarie Infrastructure stock. The shares were bought at an average price of $45.95 per share, for a total transaction of $5,789,700.00.
  • On Thursday, August 2nd, Group Ltd Macquarie acquired 51,922 shares of Macquarie Infrastructure stock. The shares were bought at an average price of $45.56 per share, for a total transaction of $2,365,566.32.

MIC opened at $47.06 on Friday. Macquarie Infrastructure Corp has a 52-week low of $36.20 and a 52-week high of $75.09. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.35 and a current ratio of 2.41. The stock has a market cap of $4.03 billion, a PE ratio of 18.38 and a beta of 1.24.

Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Wednesday, August 1st. The conglomerate reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Macquarie Infrastructure had a net margin of 26.49% and a return on equity of 6.32%. The firm had revenue of $478.08 million for the quarter, compared to the consensus estimate of $441.10 million. analysts anticipate that Macquarie Infrastructure Corp will post 2.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Monday, August 13th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, August 10th. This represents a $4.00 annualized dividend and a yield of 8.50%. Macquarie Infrastructure’s dividend payout ratio (DPR) is presently 156.25%.

Large investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in Macquarie Infrastructure by 5.7% in the 1st quarter. Principal Financial Group Inc. now owns 2,686,891 shares of the conglomerate’s stock worth $99,226,000 after buying an additional 145,885 shares during the period. MD Sass Investors Services Inc. increased its holdings in Macquarie Infrastructure by 1,655.1% in the 1st quarter. MD Sass Investors Services Inc. now owns 623,050 shares of the conglomerate’s stock worth $23,009,000 after buying an additional 587,550 shares during the period. Eos Focused Equity Management L.P. acquired a new position in Macquarie Infrastructure in the 2nd quarter worth approximately $2,645,000. Brookfield Asset Management Inc. acquired a new position in Macquarie Infrastructure in the 1st quarter worth approximately $60,442,000. Finally, State of Alaska Department of Revenue increased its holdings in Macquarie Infrastructure by 40.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,790 shares of the conglomerate’s stock worth $370,000 after buying an additional 2,510 shares during the period. Institutional investors own 71.52% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Barclays upped their price objective on shares of Macquarie Infrastructure from $41.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, July 11th. Oppenheimer set a $60.00 price objective on shares of Macquarie Infrastructure and gave the company a “buy” rating in a report on Thursday, May 3rd. SunTrust Banks set a $49.00 price objective on shares of Macquarie Infrastructure and gave the company a “hold” rating in a report on Monday, July 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Macquarie Infrastructure from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Macquarie Infrastructure currently has a consensus rating of “Hold” and an average target price of $51.00.

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 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.

Recommended Story: Investing in Growth Stocks

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

Receive News & Ratings for Macquarie Infrastructure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macquarie Infrastructure and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply