United Capital Financial Advisers LLC cut its holdings in Macquarie Infrastructure Corp (NYSE:MIC) by 0.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 661,997 shares of the conglomerate’s stock after selling 5,072 shares during the period. United Capital Financial Advisers LLC’s holdings in Macquarie Infrastructure were worth $26,837,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Manchester Capital Management LLC purchased a new stake in Macquarie Infrastructure in the 2nd quarter valued at about $28,000. AGF Investments LLC purchased a new stake in shares of Macquarie Infrastructure in the 2nd quarter worth approximately $29,000. Centersquare Investment Management LLC purchased a new stake in shares of Macquarie Infrastructure in the 2nd quarter worth approximately $31,000. Aperio Group LLC purchased a new stake in shares of Macquarie Infrastructure in the 2nd quarter worth approximately $39,000. Finally, AdvisorNet Financial Inc lifted its position in shares of Macquarie Infrastructure by 260.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,317 shares of the conglomerate’s stock worth $134,000 after purchasing an additional 2,397 shares during the period. Hedge funds and other institutional investors own 57.71% of the company’s stock.
Shares of MIC traded down $0.96 during mid-day trading on Friday, hitting $38.67. The company’s stock had a trading volume of 24,520 shares, compared to its average volume of 481,756. The company’s 50-day moving average is $38.82 and its 200-day moving average is $40.37. Macquarie Infrastructure Corp has a 52-week low of $33.71 and a 52-week high of $47.26. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 18.35 and a beta of 1.41. The company has a current ratio of 1.60, a quick ratio of 1.56 and a debt-to-equity ratio of 0.98.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $1.21 EPS for the quarter, topping the consensus estimate of $0.96 by $0.25. The firm had revenue of $416.00 million during the quarter, compared to analyst estimates of $412.30 million. Macquarie Infrastructure had a net margin of 5.66% and a return on equity of 10.42%. As a group, sell-side analysts predict that Macquarie Infrastructure Corp will post 4.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $4.00 annualized dividend and a dividend yield of 10.34%. Macquarie Infrastructure’s dividend payout ratio (DPR) is presently 188.68%.
MIC has been the subject of several research reports. ValuEngine cut shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research cut shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating and set a $42.00 price target for the company. in a research report on Wednesday, May 29th. Finally, Royal Bank of Canada raised shares of Macquarie Infrastructure from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $48.00 to $51.00 in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $48.25.
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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