Macquarie Infrastructure Corp (MIC) Shares Bought by Alps Advisors Inc.
Alps Advisors Inc. increased its stake in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 10.0% during the second quarter, Holdings Channel reports. The institutional investor owned 239,455 shares of the conglomerate’s stock after buying an additional 21,835 shares during the period. Alps Advisors Inc.’s holdings in Macquarie Infrastructure Corp were worth $18,774,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Commonwealth Financial Services LLC bought a new position in Macquarie Infrastructure Corp during the first quarter valued at approximately $119,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Macquarie Infrastructure Corp during the first quarter valued at approximately $121,000. Mn Services Vermogensbeheer B.V. boosted its position in Macquarie Infrastructure Corp by 3.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,078 shares of the conglomerate’s stock valued at $157,000 after buying an additional 73 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Macquarie Infrastructure Corp by 244.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,997 shares of the conglomerate’s stock valued at $161,000 after buying an additional 1,418 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Macquarie Infrastructure Corp by 412.5% in the first quarter. Daiwa Securities Group Inc. now owns 2,050 shares of the conglomerate’s stock valued at $165,000 after buying an additional 1,650 shares in the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.
Shares of Macquarie Infrastructure Corp (MIC) opened at 72.76 on Wednesday. The company has a market capitalization of $6.01 billion, a PE ratio of 34.98 and a beta of 0.92. Macquarie Infrastructure Corp has a one year low of $72.23 and a one year high of $85.45. The company has a 50-day moving average of $76.37 and a 200-day moving average of $78.02.
Macquarie Infrastructure Corp (NYSE:MIC) last issued its quarterly earnings data on Wednesday, August 2nd. The conglomerate reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by $0.26. Macquarie Infrastructure Corp had a return on equity of 3.63% and a net margin of 5.93%. The company had revenue of $438.99 million for the quarter, compared to analyst estimates of $416.50 million. On average, analysts anticipate that Macquarie Infrastructure Corp will post $1.92 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 7.59%. This is a positive change from Macquarie Infrastructure Corp’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, August 10th. Macquarie Infrastructure Corp’s dividend payout ratio (DPR) is presently 255.56%.
Several equities analysts have recently commented on MIC shares. Zacks Investment Research upgraded shares of Macquarie Infrastructure Corp from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Tuesday, July 18th. Barclays PLC cut shares of Macquarie Infrastructure Corp from an “overweight” rating to a “hold” rating and lowered their price target for the company from $89.00 to $83.00 in a report on Tuesday, July 18th. Finally, BidaskClub upgraded shares of Macquarie Infrastructure Corp from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. 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 company currently has an average rating of “Hold” and an average target price of $88.75.
About Macquarie Infrastructure Corp
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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