First Mercantile Trust Co. cut its position in shares of Macquarie Infrastructure Company (NYSE:MIC) by 22.6% during the second quarter, Holdings Channel reports. The firm owned 17,257 shares of the conglomerate’s stock after selling 5,037 shares during the period. First Mercantile Trust Co.’s holdings in Macquarie Infrastructure were worth $1,353,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. World Asset Management Inc raised its position in shares of Macquarie Infrastructure by 0.3% in the second quarter. World Asset Management Inc now owns 2,736 shares of the conglomerate’s stock worth $215,000 after buying an additional 9 shares during the period. US Bancorp DE raised its position in shares of Macquarie Infrastructure by 1.0% in the second quarter. US Bancorp DE now owns 2,693 shares of the conglomerate’s stock worth $211,000 after buying an additional 26 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Macquarie Infrastructure by 0.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,622 shares of the conglomerate’s stock worth $937,000 after buying an additional 31 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Macquarie Infrastructure by 0.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,107 shares of the conglomerate’s stock worth $573,000 after buying an additional 41 shares during the period. Finally, San Francisco Sentry Investment Group CA raised its position in shares of Macquarie Infrastructure by 1.9% in the first quarter. San Francisco Sentry Investment Group CA now owns 2,685 shares of the conglomerate’s stock worth $216,000 after buying an additional 50 shares during the period. Institutional investors own 86.02% of the company’s stock.

Macquarie Infrastructure Company (NYSE MIC) opened at 73.42 on Friday. The stock has a market cap of $6.07 billion, a P/E ratio of 35.30 and a beta of 0.92. Macquarie Infrastructure Company has a 52 week low of $73.24 and a 52 week high of $85.45. The stock has a 50 day moving average of $76.80 and a 200-day moving average of $78.23.

Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings results 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 firm 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 forecast that Macquarie Infrastructure Company will post $1.92 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 7.52%. 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 (DPR) is currently 244.45%.

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A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub lowered shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a report on Thursday. 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 report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target 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.

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Institutional Ownership by Quarter for Macquarie Infrastructure (NYSE:MIC)

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