Punch & Associates Investment Management Inc. lifted its stake in Macquarie Infrastructure Corp (NYSE:MIC) by 36.5% in the first quarter, HoldingsChannel reports. The firm owned 139,704 shares of the conglomerate’s stock after acquiring an additional 37,372 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in Macquarie Infrastructure were worth $5,759,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MIC. Clear Harbor Asset Management LLC grew its stake in shares of Macquarie Infrastructure by 3.1% in the fourth quarter. Clear Harbor Asset Management LLC now owns 88,642 shares of the conglomerate’s stock worth $3,241,000 after acquiring an additional 2,631 shares during the last quarter. Accident Compensation Corp grew its stake in shares of Macquarie Infrastructure by 392.7% in the fourth quarter. Accident Compensation Corp now owns 40,400 shares of the conglomerate’s stock worth $1,477,000 after acquiring an additional 32,200 shares during the last quarter. Martingale Asset Management L P grew its stake in shares of Macquarie Infrastructure by 7,403.6% in the first quarter. Martingale Asset Management L P now owns 495,760 shares of the conglomerate’s stock worth $20,437,000 after acquiring an additional 489,153 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Macquarie Infrastructure in the fourth quarter worth $3,568,000. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Macquarie Infrastructure by 120.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 10,126 shares of the conglomerate’s stock worth $370,000 after acquiring an additional 5,528 shares during the last quarter. 73.86% of the stock is currently owned by hedge funds and other institutional investors.

MIC traded down $0.40 during trading on Friday, reaching $40.55. 394,546 shares of the company’s stock were exchanged, compared to its average volume of 438,472. Macquarie Infrastructure Corp has a fifty-two week low of $33.71 and a fifty-two week high of $47.74. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.67 and a quick ratio of 1.64. The company has a market capitalization of $3.52 billion, a P/E ratio of 19.13 and a beta of 1.42.

Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings results on Wednesday, May 1st. The conglomerate reported $1.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.18. Macquarie Infrastructure had a net margin of 6.93% and a return on equity of 8.18%. The firm had revenue of $482.00 million for the quarter, compared to the consensus estimate of $488.00 million. On average, equities research analysts expect that Macquarie Infrastructure Corp will post 4.75 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, May 10th. This represents a $4.00 dividend on an annualized basis and a yield of 9.86%. Macquarie Infrastructure’s dividend payout ratio is currently 188.68%.

Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. Zacks Investment Research downgraded shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating and set a $42.00 price target on the stock. in a research note on Wednesday, May 29th. Barclays downgraded shares of Macquarie Infrastructure from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $42.00 to $40.00 in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 price target (down previously from $45.00) on shares of Macquarie Infrastructure in a research note on Thursday, February 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.67.

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Macquarie Infrastructure Company Profile

Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, specialty chemicals, renewable fuels, and vegetable and tropical oils through a network of 19 terminals, including 17 in the United States and 2 in Canada.

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

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