NGAM Advisors L.P. Sells 10,219 Shares of Macquarie Infrastructure Company (MIC)
NGAM Advisors L.P. cut its stake in Macquarie Infrastructure Company (NYSE:MIC) by 24.2% during the second quarter, Holdings Channel reports. The institutional investor owned 32,023 shares of the conglomerate’s stock after selling 10,219 shares during the period. NGAM Advisors L.P.’s holdings in Macquarie Infrastructure were worth $2,510,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in MIC. FMR LLC raised its position in Macquarie Infrastructure by 29.2% in the fourth quarter. FMR LLC now owns 51,667 shares of the conglomerate’s stock worth $4,221,000 after buying an additional 11,667 shares during the period. UBS Asset Management Americas Inc. raised its position in Macquarie Infrastructure by 161.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 139,707 shares of the conglomerate’s stock worth $11,413,000 after buying an additional 86,179 shares during the period. Teachers Advisors LLC raised its position 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. Raymond James Trust N.A. purchased a new position in Macquarie Infrastructure during the first quarter worth about $218,000. Finally, Bank of Montreal Can raised its position 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. Institutional investors and hedge funds own 86.02% of the company’s stock.
Macquarie Infrastructure Company (NYSE:MIC) opened at 73.47 on Friday. The firm has a 50-day moving average of $76.69 and a 200-day moving average of $78.17. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 35.32 and a beta of 0.92. Macquarie Infrastructure Company has a 12-month low of $73.01 and a 12-month high of $85.45.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.26. Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. The company had revenue of $438.99 million during the quarter, compared to analyst estimates of $416.50 million. Equities research analysts forecast that Macquarie Infrastructure Company will post $1.92 earnings per share for the current fiscal year.
The business 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 is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 7.51%. Macquarie Infrastructure’s dividend payout ratio (DPR) is 255.56%.
A number of research analysts have issued reports on the stock. BidaskClub upgraded shares of Macquarie Infrastructure from a “strong sell” rating to a “sell” rating in a report on Friday, August 4th. Zacks Investment Research lowered shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Finally, Barclays PLC lowered shares of Macquarie Infrastructure from an “overweight” rating to a “hold” rating and reduced their target price 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. Macquarie Infrastructure currently has a consensus 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.
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.