Rockland Trust Co. lowered its position in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 24.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,906 shares of the conglomerate’s stock after selling 4,815 shares during the quarter. Rockland Trust Co.’s holdings in Macquarie Infrastructure were worth $957,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its stake in shares of Macquarie Infrastructure by 10.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 287,446 shares of the conglomerate’s stock worth $22,536,000 after acquiring an additional 28,029 shares in the last quarter. Comerica Bank lifted its holdings in shares of Macquarie Infrastructure by 2.0% in the second quarter. Comerica Bank now owns 3,158 shares of the conglomerate’s stock valued at $240,000 after purchasing an additional 63 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Macquarie Infrastructure by 10.5% in the second quarter. Prudential Financial Inc. now owns 3,170 shares of the conglomerate’s stock valued at $249,000 after purchasing an additional 300 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Macquarie Infrastructure during the second quarter worth $206,000. Finally, AXA raised its holdings in shares of Macquarie Infrastructure by 78.9% during the second quarter. AXA now owns 6,800 shares of the conglomerate’s stock worth $533,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 75.91% of the company’s stock.
In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 2,151 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $66.07, for a total transaction of $142,116.57. Following the sale, the director now directly owns 46,925 shares of the company’s stock, valued at approximately $3,100,334.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Norman H. Brown, Jr. sold 1,732 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $65.87, for a total transaction of $114,086.84. Following the sale, the director now directly owns 49,076 shares in the company, valued at $3,232,636.12. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.
Several research firms have weighed in on MIC. Zacks Investment Research upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Tuesday. SunTrust Banks decreased their target price on Macquarie Infrastructure to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th. One 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. The stock has a consensus rating of “Hold” and a consensus price target of $83.75.
Macquarie Infrastructure Corp (MIC) traded down $2.06 during mid-day trading on Friday, reaching $64.58. 836,612 shares of the company traded hands, compared to its average volume of 901,706. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 1.11. Macquarie Infrastructure Corp has a 1 year low of $63.08 and a 1 year high of $81.74. The company has a market cap of $5,460.00, a PE ratio of 31.20 and a beta of 0.87.
Macquarie Infrastructure (NYSE:MIC) last released its earnings results on Wednesday, November 1st. The conglomerate reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.22). Macquarie Infrastructure had a return on equity of 5.66% and a net margin of 9.82%. The business had revenue of $453.06 million for the quarter, compared to analyst estimates of $465.80 million. equities research analysts anticipate that Macquarie Infrastructure Corp will post 1.81 earnings per share for the current year.
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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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