Macquarie Infrastructure Company (MIC) Stake Increased by Sei Investments Co.
Sei Investments Co. increased its position in Macquarie Infrastructure Company (NYSE:MIC) by 30.0% during the second quarter, Holdings Channel reports. The firm owned 76,197 shares of the conglomerate’s stock after buying an additional 17,571 shares during the period. Sei Investments Co.’s holdings in Macquarie Infrastructure were worth $5,974,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in MIC. Bank of Montreal Can boosted its stake in Macquarie Infrastructure by 2.2% in the first quarter. Bank of Montreal Can now owns 194,928 shares of the conglomerate’s stock worth $15,707,000 after buying an additional 4,271 shares during the period. American National Insurance Co. TX bought a new stake in Macquarie Infrastructure during the first quarter worth approximately $419,000. DekaBank Deutsche Girozentrale boosted its stake in Macquarie Infrastructure by 142.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 5,338 shares of the conglomerate’s stock worth $449,000 after buying an additional 3,138 shares during the period. State of Wisconsin Investment Board boosted its stake in Macquarie Infrastructure by 88.7% in the first quarter. State of Wisconsin Investment Board now owns 77,068 shares of the conglomerate’s stock worth $6,210,000 after buying an additional 36,221 shares during the period. Finally, Teachers Advisors LLC boosted its stake in Macquarie Infrastructure by 8.4% in the fourth quarter. Teachers Advisors LLC now owns 79,980 shares of the conglomerate’s stock worth $6,534,000 after buying an additional 6,226 shares during the period. Institutional investors own 86.15% of the company’s stock.
Macquarie Infrastructure Company (NYSE MIC) opened at 72.76 on Wednesday. The firm’s 50-day moving average is $76.37 and its 200-day moving average is $78.02. Macquarie Infrastructure Company has a 52-week low of $72.23 and a 52-week high of $85.45. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 34.98 and a beta of 0.92.
Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.26. The business had revenue of $438.99 million during the quarter, compared to analyst estimates of $416.50 million. Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. Analysts predict that Macquarie Infrastructure Company will post $1.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 7.59%. This is an increase from Macquarie Infrastructure’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, August 10th. Macquarie Infrastructure’s dividend payout ratio is 255.56%.
ILLEGAL ACTIVITY NOTICE: “Macquarie Infrastructure Company (MIC) Stake Increased by Sei Investments Co.” was first reported by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this piece of content can be read at https://www.watchlistnews.com/macquarie-infrastructure-company-mic-stake-increased-by-sei-investments-co/1493310.html.
MIC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Friday, April 21st. BidaskClub cut shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Barclays PLC cut shares of Macquarie Infrastructure from an “overweight” rating to a “hold” rating and lowered their target price for the stock from $89.00 to $83.00 in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Macquarie Infrastructure currently has a consensus rating of “Hold” and an average target price of $88.75.
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.
Want to see what other hedge funds are holding MIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macquarie Infrastructure Company (NYSE:MIC).
Receive News & Ratings for Macquarie Infrastructure Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macquarie Infrastructure Company and related companies with Analyst Ratings Network's FREE daily email newsletter.