Marshall Wace LLP Buys New Holdings in Macquarie Infrastructure Corp (MIC)
Marshall Wace LLP bought a new position in Macquarie Infrastructure Corp (NYSE:MIC) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 5,209 shares of the conglomerate’s stock, valued at approximately $220,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of MIC. NumerixS Investment Technologies Inc acquired a new position in shares of Macquarie Infrastructure during the second quarter worth approximately $122,000. Stratos Wealth Partners LTD. lifted its holdings in shares of Macquarie Infrastructure by 570.0% during the first quarter. Stratos Wealth Partners LTD. now owns 3,886 shares of the conglomerate’s stock worth $144,000 after buying an additional 3,306 shares during the last quarter. Sandy Spring Bank lifted its holdings in shares of Macquarie Infrastructure by 84.4% during the second quarter. Sandy Spring Bank now owns 4,360 shares of the conglomerate’s stock worth $184,000 after buying an additional 1,995 shares during the last quarter. Edgemoor Investment Advisors Inc. acquired a new position in shares of Macquarie Infrastructure during the second quarter worth approximately $211,000. Finally, Villere ST Denis J & Co. LLC acquired a new position in shares of Macquarie Infrastructure during the second quarter worth approximately $223,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.
A number of brokerages have recently commented on MIC. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Monday, July 30th. SunTrust Banks set a $49.00 price target on Macquarie Infrastructure and gave the stock a “hold” rating in a report on Monday, July 23rd. Barclays upped their price target on Macquarie Infrastructure from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 11th. Finally, JPMorgan Chase & Co. upped their price target on Macquarie Infrastructure from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Macquarie Infrastructure has an average rating of “Hold” and an average target price of $51.00.
Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings results on Wednesday, August 1st. The conglomerate reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. Macquarie Infrastructure had a return on equity of 6.32% and a net margin of 26.49%. The company had revenue of $478.08 million during the quarter, compared to analyst estimates of $441.10 million. equities analysts anticipate that Macquarie Infrastructure Corp will post 2.38 earnings per share for the current fiscal year.
In other news, major shareholder Group Ltd Macquarie acquired 177,702 shares of the stock in a transaction dated Thursday, August 30th. The shares were acquired at an average cost of $47.09 per share, for a total transaction of $8,367,987.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ouma Sananikone acquired 2,000 shares of the stock in a transaction dated Friday, August 31st. The shares were purchased at an average price of $46.69 per share, for a total transaction of $93,380.00. Following the completion of the transaction, the director now owns 17,598 shares of the company’s stock, valued at approximately $821,650.62. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,929,723 shares of company stock worth $87,659,707. 6.90% of the stock is currently owned by company insiders.
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 four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP), and MIC Hawaii. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, chemicals, renewable fuels, and vegetable and animal oils through a network of 19 marine terminals, including 17 in the United States and 2 in Canada.
Further Reading: Buyback For Investors Defined
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