Vanguard Group Inc. decreased its position in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,445,475 shares of the conglomerate’s stock after selling 425,332 shares during the quarter. Vanguard Group Inc. owned 7.53% of Macquarie Infrastructure worth $297,329,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Macquarie Group Ltd. lifted its position in Macquarie Infrastructure by 28.7% during the third quarter. Macquarie Group Ltd. now owns 12,338,912 shares of the conglomerate’s stock worth $569,194,000 after purchasing an additional 2,751,369 shares during the period. Dimensional Fund Advisors LP lifted its position in Macquarie Infrastructure by 12.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,654,441 shares of the conglomerate’s stock worth $122,447,000 after purchasing an additional 296,939 shares during the period. FMR LLC lifted its position in Macquarie Infrastructure by 0.7% during the third quarter. FMR LLC now owns 1,621,374 shares of the conglomerate’s stock worth $74,793,000 after purchasing an additional 11,478 shares during the period. Prudential Financial Inc. raised its stake in Macquarie Infrastructure by 4,375.5% during the third quarter. Prudential Financial Inc. now owns 793,056 shares of the conglomerate’s stock worth $36,583,000 after acquiring an additional 775,336 shares in the last quarter. Finally, Waterfront Capital Partners LLC raised its stake in Macquarie Infrastructure by 27.8% during the third quarter. Waterfront Capital Partners LLC now owns 600,644 shares of the conglomerate’s stock worth $27,708,000 after acquiring an additional 130,644 shares in the last quarter. 79.97% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Christopher Frost acquired 25,160 shares of the stock in a transaction dated Monday, November 26th. The stock was bought at an average price of $39.73 per share, with a total value of $999,606.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin Stanley acquired 12,000 shares of the stock in a transaction dated Monday, November 5th. The stock was purchased at an average cost of $39.04 per share, with a total value of $468,480.00. Following the purchase, the director now directly owns 32,000 shares of the company’s stock, valued at $1,249,280. The disclosure for this purchase can be found here. 6.90% of the stock is currently owned by insiders.
Shares of NYSE MIC opened at $40.54 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.42 and a quick ratio of 1.39. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 15.84 and a beta of 1.45. Macquarie Infrastructure Corp has a 12 month low of $33.71 and a 12 month high of $67.84.
Macquarie Infrastructure (NYSE:MIC) last issued its earnings results on Wednesday, October 31st. The conglomerate reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.27). The business had revenue of $473.28 million for the quarter, compared to analyst estimates of $476.20 million. Macquarie Infrastructure had a return on equity of 5.81% and a net margin of 25.26%.
Several brokerages have commented on MIC. Zacks Investment Research downgraded Macquarie Infrastructure from a “hold” rating to a “strong sell” rating in a research note on Thursday. ValuEngine raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Oppenheimer set a $60.00 target price on Macquarie Infrastructure and gave the stock a “buy” rating in a research note on Thursday, November 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $50.00.
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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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