Patten Group Inc. grew its holdings in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 30.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,104 shares of the conglomerate’s stock after acquiring an additional 5,664 shares during the quarter. Patten Group Inc.’s holdings in Macquarie Infrastructure were worth $1,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. raised its position in Macquarie Infrastructure by 68.2% in the 2nd quarter. Macquarie Group Ltd. now owns 9,587,543 shares of the conglomerate’s stock worth $404,595,000 after purchasing an additional 3,887,510 shares during the period. Dimensional Fund Advisors LP boosted its stake in Macquarie Infrastructure by 12.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,654,441 shares of the conglomerate’s stock valued at $122,447,000 after acquiring an additional 296,939 shares in the last quarter. FMR LLC boosted its stake in Macquarie Infrastructure by 0.7% in the third quarter. FMR LLC now owns 1,621,374 shares of the conglomerate’s stock valued at $74,793,000 after acquiring an additional 11,478 shares in the last quarter. First Trust Advisors LP boosted its stake in Macquarie Infrastructure by 165.7% in the second quarter. First Trust Advisors LP now owns 882,333 shares of the conglomerate’s stock valued at $37,234,000 after acquiring an additional 550,250 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Macquarie Infrastructure by 4,375.5% in the third quarter. Prudential Financial Inc. now owns 793,056 shares of the conglomerate’s stock worth $36,583,000 after buying an additional 775,336 shares during the last quarter. Hedge funds and other institutional investors own 80.23% of the company’s stock.

MIC has been the subject of several recent research reports. Oppenheimer set a $60.00 target price on shares of Macquarie Infrastructure and gave the stock a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research cut shares of Macquarie Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $51.00.

In other Macquarie Infrastructure news, CEO Christopher Frost purchased 25,160 shares of the stock in a transaction that occurred on Monday, November 26th. The shares were purchased at an average cost of $39.73 per share, for a total transaction of $999,606.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Group Ltd Macquarie purchased 40,000 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were acquired at an average price of $46.49 per share, for a total transaction of $1,859,600.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 321,494 shares of company stock worth $14,707,107. Company insiders own 6.90% of the company’s stock.

Shares of NYSE MIC traded down $1.39 during trading on Thursday, hitting $40.11. The company had a trading volume of 8,204 shares, compared to its average volume of 848,208. Macquarie Infrastructure Corp has a fifty-two week low of $36.20 and a fifty-two week high of $67.84. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 15.63 and a beta of 1.47. The company has a quick ratio of 1.39, a current ratio of 1.42 and a debt-to-equity ratio of 0.94.

Macquarie Infrastructure (NYSE:MIC) last announced its earnings results on Wednesday, October 31st. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.27). Macquarie Infrastructure had a net margin of 25.26% and a return on equity of 5.81%. The company had revenue of $473.28 million during the quarter, compared to analyst estimates of $476.20 million.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 12th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $4.00 annualized dividend and a dividend yield of 9.97%. Macquarie Infrastructure’s dividend payout ratio (DPR) is 156.25%.

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About Macquarie Infrastructure

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.

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

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