California Public Employees Retirement System boosted its holdings in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 22.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 122,691 shares of the conglomerate’s stock after buying an additional 22,732 shares during the quarter. California Public Employees Retirement System’s holdings in Macquarie Infrastructure were worth $5,057,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Macquarie Infrastructure by 63.5% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 299 shares in the last quarter. Nordea Investment Management AB purchased a new position in shares of Macquarie Infrastructure during the 4th quarter valued at approximately $28,000. Quad Cities Investment Group LLC increased its holdings in shares of Macquarie Infrastructure by 128.0% during the 1st quarter. Quad Cities Investment Group LLC now owns 684 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 384 shares in the last quarter. Sage Capital Advisors llc purchased a new position in shares of Macquarie Infrastructure during the 4th quarter valued at approximately $31,000. Finally, Advisory Services Network LLC increased its holdings in shares of Macquarie Infrastructure by 209.6% during the 4th quarter. Advisory Services Network LLC now owns 1,548 shares of the conglomerate’s stock valued at $57,000 after purchasing an additional 1,048 shares in the last quarter. 73.89% of the stock is owned by institutional investors.
In related news, major shareholder Group Ltd Macquarie purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average price of $40.61 per share, with a total value of $40,610.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.00% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on MIC. Zacks Investment Research lowered shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating and set a $42.00 target price for the company. in a report on Wednesday. ValuEngine lowered shares of Macquarie Infrastructure from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Barclays lowered shares of Macquarie Infrastructure from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $42.00 to $40.00 in a report on Tuesday, April 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 target price (down from $45.00) on shares of Macquarie Infrastructure in a report on Thursday, February 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Macquarie Infrastructure presently has a consensus rating of “Hold” and an average price target of $46.67.
Macquarie Infrastructure stock opened at $40.17 on Friday. Macquarie Infrastructure Corp has a 1 year low of $33.71 and a 1 year high of $47.74. The firm has a market capitalization of $3.46 billion, a P/E ratio of 14.01 and a beta of 1.56. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.64 and a current ratio of 1.67.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings results on Wednesday, May 1st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.18. Macquarie Infrastructure had a net margin of 6.93% and a return on equity of 8.18%. The firm had revenue of $482.00 million for the quarter, compared to analysts’ expectations of $488.00 million. As a group, analysts forecast that Macquarie Infrastructure Corp will post 4.75 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were paid a $1.00 dividend. The ex-dividend date was Friday, May 10th. This represents a $4.00 dividend on an annualized basis and a yield of 9.96%. Macquarie Infrastructure’s dividend payout ratio is currently 188.68%.
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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: 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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