Zacks Investment Research cut shares of Macquarie Infrastructure (NYSE:MIC) from a buy rating to a hold rating in a research report released on Saturday, November 18th.
According to Zacks, “Macquarie owns, operate and invests in a diversified group of infrastructure businesses, which provide basic, everyday services, in the United States and other developed countries. Its initial businesses and investments consist of an airport services business (Atlantic and AvPorts), an airport parking business (PCAA and Avistar) and a district energy business (Thermal Chicago and Northwind Aladdin), a UK regulated water utility and in Macquarie Communications Infrastructure Group. “
A number of other equities analysts also recently issued reports on MIC. BidaskClub downgraded shares of Macquarie Infrastructure from a sell rating to a strong sell rating in a report on Friday, July 28th. SunTrust Banks dropped their target price on shares of Macquarie Infrastructure to $75.00 and set a buy rating for the company in a report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Macquarie Infrastructure has an average rating of Hold and a consensus price target of $83.75.
Shares of Macquarie Infrastructure (NYSE:MIC) traded down $0.36 during trading on Friday, hitting $66.11. 511,561 shares of the stock traded hands, compared to its average volume of 599,831. Macquarie Infrastructure has a fifty-two week low of $63.08 and a fifty-two week high of $83.66. The firm has a market cap of $5,600.00, a PE ratio of 31.60 and a beta of 0.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.93 and a current ratio of 1.07.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were given a $1.42 dividend. The ex-dividend date of this dividend was Friday, November 10th. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a dividend yield of 8.59%. Macquarie Infrastructure’s dividend payout ratio (DPR) is currently 274.40%.
In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 1,732 shares of Macquarie Infrastructure stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $65.87, for a total transaction of $114,086.84. Following the transaction, the director now directly owns 49,076 shares of the company’s stock, valued at $3,232,636.12. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. World Asset Management Inc raised its stake in shares of Macquarie Infrastructure by 0.3% during the second quarter. World Asset Management Inc now owns 2,736 shares of the conglomerate’s stock valued at $215,000 after purchasing an additional 9 shares during the period. US Bancorp DE raised its stake in shares of Macquarie Infrastructure by 1.0% during the second quarter. US Bancorp DE now owns 2,693 shares of the conglomerate’s stock valued at $211,000 after purchasing an additional 26 shares during the period. Comerica Bank increased its stake in shares of Macquarie Infrastructure by 2.0% in the second quarter. Comerica Bank now owns 3,158 shares of the conglomerate’s stock worth $240,000 after buying an additional 63 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Macquarie Infrastructure by 0.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 18,124 shares of the conglomerate’s stock worth $1,421,000 after buying an additional 83 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Macquarie Infrastructure by 3.6% in the second quarter. Toronto Dominion Bank now owns 3,056 shares of the conglomerate’s stock worth $240,000 after buying an additional 107 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.
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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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