Macquarie Infrastructure Company (MIC) Stake Boosted by Gratus Capital LLC
Gratus Capital LLC boosted its position in Macquarie Infrastructure Company (NYSE:MIC) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,766 shares of the conglomerate’s stock after buying an additional 1,842 shares during the period. Gratus Capital LLC owned about 0.08% of Macquarie Infrastructure worth $5,156,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of MIC. Vanguard Group Inc. increased its position in Macquarie Infrastructure by 9.5% in the first quarter. Vanguard Group Inc. now owns 6,313,859 shares of the conglomerate’s stock worth $508,770,000 after buying an additional 545,647 shares during the last quarter. RidgeWorth Capital Management LLC increased its position in Macquarie Infrastructure by 99.2% in the first quarter. RidgeWorth Capital Management LLC now owns 765,525 shares of the conglomerate’s stock worth $61,686,000 after buying an additional 381,175 shares during the last quarter. Macquarie Group Ltd. increased its position in Macquarie Infrastructure by 7.9% in the first quarter. Macquarie Group Ltd. now owns 4,891,320 shares of the conglomerate’s stock worth $394,143,000 after buying an additional 356,949 shares during the last quarter. Janus Capital Management LLC increased its position in Macquarie Infrastructure by 685.6% in the first quarter. Janus Capital Management LLC now owns 369,225 shares of the conglomerate’s stock worth $29,752,000 after buying an additional 322,225 shares during the last quarter. Finally, State Street Corp increased its position in Macquarie Infrastructure by 18.2% in the first quarter. State Street Corp now owns 1,749,011 shares of the conglomerate’s stock worth $140,932,000 after buying an additional 269,761 shares during the last quarter. Hedge funds and other institutional investors own 80.72% of the company’s stock.
Shares of Macquarie Infrastructure Company (NYSE MIC) opened at 72.28 on Wednesday. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 34.75 and a beta of 0.92. The firm’s 50-day moving average is $75.11 and its 200-day moving average is $77.77. Macquarie Infrastructure Company has a 52 week low of $71.23 and a 52 week high of $85.45.
Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings data on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.26. The company had revenue of $438.99 million for the quarter, compared to analysts’ expectations of $416.50 million. Macquarie Infrastructure had a return on equity of 5.71% and a net margin of 10.12%. Equities research analysts predict that Macquarie Infrastructure Company will post $1.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were paid a dividend of $1.38 per share. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.32. This represents a $5.52 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date of this dividend was Thursday, August 10th. Macquarie Infrastructure’s dividend payout ratio is 255.56%.
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A number of research analysts recently issued reports on the stock. BidaskClub downgraded shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, Barclays PLC lowered shares of 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 note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $88.75.
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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