Utah Retirement Systems raised its position in Macquarie Infrastructure Company (NYSE:MIC) by 3.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,200 shares of the conglomerate’s stock after buying an additional 500 shares during the period. Utah Retirement Systems’ holdings in Macquarie Infrastructure were worth $1,113,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MIC. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Macquarie Infrastructure during the first quarter worth about $121,000. Daiwa Securities Group Inc. increased its stake in shares of Macquarie Infrastructure by 412.5% during the first quarter. Daiwa Securities Group Inc. now owns 2,050 shares of the conglomerate’s stock worth $165,000 after purchasing an additional 1,650 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in shares of Macquarie Infrastructure during the second quarter worth about $165,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Macquarie Infrastructure by 13.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,268 shares of the conglomerate’s stock worth $178,000 after purchasing an additional 271 shares in the last quarter. Finally, Almanack Investment Partners LLC. purchased a new stake in shares of Macquarie Infrastructure during the first quarter worth about $198,000. 80.74% of the stock is owned by institutional investors.
Macquarie Infrastructure Company (MIC) opened at 73.24 on Friday. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 35.21 and a beta of 0.87. Macquarie Infrastructure Company has a 52-week low of $71.23 and a 52-week high of $85.45. The company’s 50-day moving average is $73.85 and its 200-day moving average is $77.28.
Macquarie Infrastructure (NYSE:MIC) last posted its earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.26). The business had revenue of $438.99 million for the quarter, compared to analysts’ expectations of $416.50 million. Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. Equities analysts predict that Macquarie Infrastructure Company will post $1.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a dividend of $1.38 per share. The ex-dividend date was Thursday, August 10th. This is an increase from Macquarie Infrastructure’s previous quarterly dividend of $1.32. This represents a $5.52 dividend on an annualized basis and a dividend yield of 7.54%. Macquarie Infrastructure’s payout ratio is 255.56%.
A number of research firms have recently commented on MIC. BidaskClub cut shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Zacks Investment Research cut shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, Barclays PLC cut shares of Macquarie Infrastructure from an “overweight” rating to a “hold” rating and cut their target price for the stock from $89.00 to $83.00 in a research note 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 issued a buy rating to the company. The stock 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.
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