Teacher Retirement System of Texas bought a new stake in shares of Macquarie Infrastructure Corp (NYSE:MIC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 84,966 shares of the conglomerate’s stock, valued at approximately $6,133,000. Teacher Retirement System of Texas owned approximately 0.10% of Macquarie Infrastructure at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Advisor Group Inc. raised its holdings in Macquarie Infrastructure by 24.4% during the third quarter. Advisor Group Inc. now owns 8,195 shares of the conglomerate’s stock valued at $592,000 after buying an additional 1,607 shares in the last quarter. Sei Investments Co. raised its holdings in Macquarie Infrastructure by 8.4% during the third quarter. Sei Investments Co. now owns 82,619 shares of the conglomerate’s stock valued at $5,963,000 after buying an additional 6,422 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Macquarie Infrastructure by 196.6% during the third quarter. BNP Paribas Arbitrage SA now owns 297,128 shares of the conglomerate’s stock valued at $21,447,000 after buying an additional 196,955 shares in the last quarter. Global X MANAGEMENT CO LLC raised its holdings in Macquarie Infrastructure by 7.7% during the third quarter. Global X MANAGEMENT CO LLC now owns 14,387 shares of the conglomerate’s stock valued at $1,038,000 after buying an additional 1,031 shares in the last quarter. Finally, Advantus Capital Management Inc raised its holdings in Macquarie Infrastructure by 6.5% during the third quarter. Advantus Capital Management Inc now owns 102,211 shares of the conglomerate’s stock valued at $7,378,000 after buying an additional 6,200 shares in the last quarter. Institutional investors own 76.41% of the company’s stock.
In other news, Director Norman H. Brown, Jr. sold 1,732 shares of Macquarie Infrastructure stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $65.87, for a total value of $114,086.84. Following the transaction, the director now directly owns 49,076 shares in the company, valued at $3,232,636.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.90% of the company’s stock.
MIC has been the topic of a number of recent analyst reports. SunTrust Banks dropped their price objective on Macquarie Infrastructure to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, November 15th. Zacks Investment Research lowered Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research note on Saturday, November 18th. Finally, BidaskClub lowered Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Macquarie Infrastructure presently has an average rating of “Hold” and an average price target of $83.75.
Macquarie Infrastructure Corp (NYSE:MIC) traded down $0.84 during trading on Monday, hitting $66.47. The stock had a trading volume of 954,177 shares, compared to its average volume of 600,210. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $5,692.01, a price-to-earnings ratio of 31.60 and a beta of 0.86. Macquarie Infrastructure Corp has a twelve month low of $63.08 and a twelve month high of $83.66.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were paid a $1.42 dividend. The ex-dividend date was Friday, November 10th. This is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.38. This represents a $5.68 dividend on an annualized basis and a dividend yield of 8.55%. Macquarie Infrastructure’s payout ratio is presently 266.67%.
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Macquarie Infrastructure Profile
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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