Zacks Investment Research cut shares of Macquarie Infrastructure Company (NYSE:MIC) from a buy rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “Macquarie owns, operate and invests in a diversified group of infrastructure businesses, which provide basic, everyday services, in the United States and other developed countries. Its initial businesses and investments consist of an airport services business (Atlantic and AvPorts), an airport parking business (PCAA and Avistar) and a district energy business (Thermal Chicago and Northwind Aladdin), a UK regulated water utility and in Macquarie Communications Infrastructure Group. “

A number of other research firms have also weighed in on MIC. BidaskClub upgraded Macquarie Infrastructure from a sell rating to a hold rating in a report on Tuesday, June 27th. Barclays PLC downgraded Macquarie Infrastructure from an overweight rating to a hold rating and decreased their price target for the company from $89.00 to $83.00 in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Macquarie Infrastructure presently has an average rating of Hold and a consensus price target of $88.75.

Macquarie Infrastructure (MIC) opened at 75.72 on Wednesday. The firm has a market cap of $6.24 billion, a price-to-earnings ratio of 37.78 and a beta of 0.93. The firm’s 50 day moving average price is $77.19 and its 200 day moving average price is $78.64. Macquarie Infrastructure has a 52-week low of $73.24 and a 52-week high of $85.45.

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Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 545,647 shares during the last quarter. RidgeWorth Capital Management LLC boosted its stake in shares of Macquarie Infrastructure by 99.2% in the first quarter. RidgeWorth Capital Management LLC now owns 765,525 shares of the conglomerate’s stock valued at $61,686,000 after buying an additional 381,175 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of 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 buying an additional 356,949 shares during the last quarter. Janus Capital Management LLC boosted its stake in shares of 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 buying an additional 322,225 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of 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 buying an additional 269,761 shares during the last quarter. 86.78% of the stock is owned by institutional investors.

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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