Barnett & Company Inc. Increases Holdings in Macquarie Infrastructure Corp (MIC)
Barnett & Company Inc. raised its stake in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 7.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,902 shares of the conglomerate’s stock after buying an additional 2,647 shares during the period. Macquarie Infrastructure comprises approximately 1.3% of Barnett & Company Inc.’s holdings, making the stock its 27th largest position. Barnett & Company Inc.’s holdings in Macquarie Infrastructure were worth $2,664,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ffcm LLC raised its stake in Macquarie Infrastructure by 122.1% during the 2nd quarter. Ffcm LLC now owns 2,010 shares of the conglomerate’s stock valued at $159,000 after buying an additional 1,105 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Macquarie Infrastructure during the 2nd quarter valued at $206,000. US Bancorp DE increased its stake in shares of Macquarie Infrastructure by 1.0% in the 2nd quarter. US Bancorp DE now owns 2,693 shares of the conglomerate’s stock worth $211,000 after purchasing an additional 26 shares in the last quarter. World Asset Management Inc increased its stake in shares of Macquarie Infrastructure by 0.3% in the 2nd quarter. World Asset Management Inc now owns 2,736 shares of the conglomerate’s stock worth $215,000 after purchasing an additional 9 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Macquarie Infrastructure in the 2nd quarter worth $233,000. Institutional investors and hedge funds own 76.41% of the company’s stock.
In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 2,151 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $66.07, for a total value of $142,116.57. Following the completion of the sale, the director now owns 46,925 shares in the company, valued at approximately $3,100,334.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Norman H. Brown, Jr. sold 1,732 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $65.87, for a total value of $114,086.84. Following the completion of the sale, the director now owns 49,076 shares of the company’s stock, valued at approximately $3,232,636.12. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 8.76%. This is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Friday, November 10th. Macquarie Infrastructure’s dividend payout ratio is 274.40%.
Several research firms have recently commented on MIC. SunTrust Banks reduced their price objective on Macquarie Infrastructure to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th. Zacks Investment Research lowered Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research note on Saturday, November 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $83.75.
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Macquarie Infrastructure Company Profile
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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