O Shares Investment Advisers LLC decreased its stake in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 10.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,145 shares of the conglomerate’s stock after selling 710 shares during the quarter. O Shares Investment Advisers LLC’s holdings in Macquarie Infrastructure were worth $253,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Macquarie Group Ltd. increased its stake in shares of Macquarie Infrastructure by 1.4% in the fourth quarter. Macquarie Group Ltd. now owns 12,506,903 shares of the conglomerate’s stock worth $457,252,000 after acquiring an additional 167,991 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Macquarie Infrastructure by 23.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,366,883 shares of the conglomerate’s stock worth $138,783,000 after acquiring an additional 649,619 shares during the period. Millennium Management LLC increased its stake in shares of Macquarie Infrastructure by 7.9% in the fourth quarter. Millennium Management LLC now owns 837,237 shares of the conglomerate’s stock worth $30,609,000 after acquiring an additional 61,282 shares during the period. Prudential Financial Inc. increased its stake in shares of Macquarie Infrastructure by 1.8% in the fourth quarter. Prudential Financial Inc. now owns 807,442 shares of the conglomerate’s stock worth $29,520,000 after acquiring an additional 14,386 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of Macquarie Infrastructure by 3.2% in the fourth quarter. Advisors Asset Management Inc. now owns 497,002 shares of the conglomerate’s stock worth $18,170,000 after acquiring an additional 15,326 shares during the period. Institutional investors and hedge funds own 73.86% of the company’s stock.
MIC stock opened at $40.86 on Friday. The firm has a market cap of $3.52 billion, a P/E ratio of 19.27 and a beta of 1.42. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.95. Macquarie Infrastructure Corp has a one year low of $33.71 and a one year high of $47.74.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings results on Wednesday, May 1st. The conglomerate reported $1.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.18. The company had revenue of $482.00 million for the quarter, compared to analyst estimates of $488.00 million. Macquarie Infrastructure had a net margin of 6.93% and a return on equity of 8.18%. Research analysts predict that Macquarie Infrastructure Corp will post 4.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 13th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 9.79%. The ex-dividend date was Friday, May 10th. Macquarie Infrastructure’s dividend payout ratio is currently 188.68%.
Several research firms recently commented on MIC. ValuEngine upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Saturday, February 23rd. Zacks Investment Research lowered shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a research report on Wednesday, May 29th. Barclays lowered shares of Macquarie Infrastructure from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $42.00 to $40.00 in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $41.00 price target (down previously from $45.00) on shares of Macquarie Infrastructure in a research 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 an average rating of “Hold” and a consensus target price of $46.67.
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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: 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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