Bank of Nova Scotia Trust Co. Has $346,000 Holdings in Macquarie Infrastructure Company (MIC)
Bank of Nova Scotia Trust Co. maintained its position in shares of Macquarie Infrastructure Company (NYSE:MIC) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,416 shares of the conglomerate’s stock at the end of the second quarter. Bank of Nova Scotia Trust Co.’s holdings in Macquarie Infrastructure were worth $346,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MIC. Vanguard Group Inc. boosted its stake in Macquarie Infrastructure by 9.5% in the first quarter. Vanguard Group Inc. now owns 6,313,859 shares of the conglomerate’s stock valued at $508,770,000 after acquiring an additional 545,647 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Macquarie Infrastructure by 7.9% in the first quarter. Macquarie Group Ltd. now owns 4,891,320 shares of the conglomerate’s stock valued at $394,143,000 after acquiring an additional 356,949 shares in the last quarter. Janus Capital Management LLC boosted its stake in Macquarie Infrastructure by 685.6% in the first quarter. Janus Capital Management LLC now owns 369,225 shares of the conglomerate’s stock valued at $29,752,000 after acquiring an additional 322,225 shares in the last quarter. State Street Corp boosted its stake in Macquarie Infrastructure by 18.2% in the first quarter. State Street Corp now owns 1,749,011 shares of the conglomerate’s stock valued at $140,932,000 after acquiring an additional 269,761 shares in the last quarter. Finally, Cibc World Markets Corp raised its holdings in shares of Macquarie Infrastructure by 119.0% in the second quarter. Cibc World Markets Corp now owns 398,500 shares of the conglomerate’s stock valued at $31,242,000 after buying an additional 216,500 shares during the last quarter. Institutional investors own 80.53% of the company’s stock.
A number of equities research analysts have recently commented on MIC shares. Zacks Investment Research raised shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Tuesday, July 18th. BidaskClub raised shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Barclays PLC cut shares of Macquarie Infrastructure from an “overweight” rating to a “hold” rating and reduced their target price for the company from $89.00 to $83.00 in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Macquarie Infrastructure has an average rating of “Hold” and an average price target of $88.75.
Shares of Macquarie Infrastructure Company (NYSE:MIC) traded down 0.19% during midday trading on Friday, hitting $72.18. 1,228,541 shares of the stock were exchanged. The company has a market cap of $5.97 billion, a PE ratio of 34.70 and a beta of 0.87. Macquarie Infrastructure Company has a 12-month low of $71.23 and a 12-month high of $85.45. The firm has a 50-day moving average price of $73.69 and a 200-day moving average price of $77.23.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.26). Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. The business had revenue of $438.99 million during the quarter, compared to analyst estimates of $416.50 million. On average, equities analysts predict that Macquarie Infrastructure Company will post $1.89 EPS for the current year.
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About Macquarie Infrastructure
Macquarie Infrastructure Corporation owns and operates a group of businesses that provide services, such as bulk liquid terminalling and handling services. The Company operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP) and MIC Hawaii. Its group of businesses also provides services, such as aircraft fueling, CP generation and utility gas services.
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