Guggenheim Capital LLC lifted its position in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 26.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,050 shares of the conglomerate’s stock after acquiring an additional 22,503 shares during the period. Guggenheim Capital LLC owned approximately 0.13% of Macquarie Infrastructure worth $4,672,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Macquarie Infrastructure by 204.7% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,100 shares of the conglomerate’s stock worth $561,000 after purchasing an additional 8,800 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Macquarie Infrastructure by 33.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 73,542 shares of the conglomerate’s stock worth $3,151,000 after purchasing an additional 18,551 shares during the last quarter. Cohen & Steers Inc. purchased a new stake in Macquarie Infrastructure in the fourth quarter worth approximately $36,320,000. Cove Street Capital LLC boosted its holdings in Macquarie Infrastructure by 40.7% in the fourth quarter. Cove Street Capital LLC now owns 548,015 shares of the conglomerate’s stock worth $23,477,000 after purchasing an additional 158,535 shares during the last quarter. Finally, Formula Growth Ltd. boosted its holdings in Macquarie Infrastructure by 38.5% in the fourth quarter. Formula Growth Ltd. now owns 443,015 shares of the conglomerate’s stock worth $18,979,000 after purchasing an additional 123,100 shares during the last quarter. 57.82% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on the stock. BMO Capital Markets cut shares of Macquarie Infrastructure to a “market perform” rating and dropped their target price for the stock from $62.00 to $61.00 in a report on Friday, February 7th. Wells Fargo & Co upgraded shares of Macquarie Infrastructure from an “equal weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a report on Thursday, January 9th. TD Securities raised their target price on shares of Macquarie Infrastructure from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Friday, December 6th. ValuEngine upgraded shares of Macquarie Infrastructure from a “strong sell” rating to a “sell” rating in a report on Friday, January 31st. Finally, Royal Bank of Canada upgraded shares of Macquarie Infrastructure from a “sector perform” rating to an “outperform” rating and dropped their target price for the stock from $41.00 to $34.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $47.86.
In other news, major shareholder Group Ltd Macquarie sold 65,800 shares of Macquarie Infrastructure stock in a transaction on Friday, March 20th. The shares were sold at an average price of $15.18, for a total transaction of $998,844.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 15.00% of the company’s stock.
Shares of Macquarie Infrastructure stock opened at $22.28 on Thursday. The company’s fifty day simple moving average is $36.55 and its 200-day simple moving average is $40.39. The stock has a market capitalization of $1.79 billion, a PE ratio of 12.45 and a beta of 1.37. Macquarie Infrastructure Corp has a 1-year low of $12.50 and a 1-year high of $45.93. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.30 and a quick ratio of 2.17.
Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings results on Tuesday, February 25th. The conglomerate reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.13). The business had revenue of $424.00 million for the quarter, compared to analysts’ expectations of $441.50 million. Macquarie Infrastructure had a return on equity of 14.29% and a net margin of 9.03%. As a group, research analysts anticipate that Macquarie Infrastructure Corp will post 3.84 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Friday, March 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 17.95%. The ex-dividend date of this dividend was Thursday, March 5th. Macquarie Infrastructure’s dividend payout ratio is presently 85.11%.
Macquarie Infrastructure 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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