Advisors Asset Management Inc. lifted its holdings in Macquarie Infrastructure Corp (NYSE:MIC) by 14.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 434,407 shares of the conglomerate’s stock after buying an additional 56,335 shares during the period. Advisors Asset Management Inc.’s holdings in Macquarie Infrastructure were worth $18,332,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Cove Street Capital LLC increased its position in Macquarie Infrastructure by 15.0% in the 2nd quarter. Cove Street Capital LLC now owns 468,680 shares of the conglomerate’s stock valued at $19,779,000 after buying an additional 61,180 shares in the last quarter. Principal Financial Group Inc. increased its position in Macquarie Infrastructure by 5.7% in the 1st quarter. Principal Financial Group Inc. now owns 2,686,891 shares of the conglomerate’s stock valued at $99,226,000 after buying an additional 145,885 shares in the last quarter. Zacks Investment Management bought a new stake in Macquarie Infrastructure in the 2nd quarter valued at about $2,640,000. Sei Investments Co. increased its position in Macquarie Infrastructure by 35.7% in the 2nd quarter. Sei Investments Co. now owns 33,029 shares of the conglomerate’s stock valued at $1,393,000 after buying an additional 8,694 shares in the last quarter. Finally, MD Sass Investors Services Inc. increased its position in Macquarie Infrastructure by 1,655.1% in the 1st quarter. MD Sass Investors Services Inc. now owns 623,050 shares of the conglomerate’s stock valued at $23,009,000 after buying an additional 587,550 shares in the last quarter. 71.52% of the stock is owned by hedge funds and other institutional investors.
Shares of MIC opened at $46.55 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.41 and a quick ratio of 2.35. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 18.18 and a beta of 1.23. Macquarie Infrastructure Corp has a 52 week low of $36.20 and a 52 week high of $75.09.
Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings data on Wednesday, August 1st. The conglomerate reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $478.08 million during the quarter, compared to analyst estimates of $441.10 million. Macquarie Infrastructure had a return on equity of 6.32% and a net margin of 26.49%. analysts expect that Macquarie Infrastructure Corp will post 2.38 EPS for the current year.
A number of analysts recently commented on MIC shares. JPMorgan Chase & Co. boosted their target price on Macquarie Infrastructure from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Zacks Investment Research lowered Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. SunTrust Banks set a $49.00 target price on Macquarie Infrastructure and gave the company a “hold” rating in a research report on Monday, July 23rd. Finally, Barclays boosted their target price on Macquarie Infrastructure from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $51.00.
In related news, Director George W. Carmany III acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was purchased at an average cost of $45.92 per share, with a total value of $45,920.00. Following the acquisition, the director now owns 46,565 shares of the company’s stock, valued at approximately $2,138,264.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Liam Stewart acquired 1,470 shares of the firm’s stock in a transaction on Tuesday, August 28th. The shares were bought at an average cost of $47.51 per share, with a total value of $69,839.70. Following the completion of the acquisition, the chief financial officer now directly owns 701 shares in the company, valued at approximately $33,304.51. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,338,708 shares of company stock valued at $103,922,275 over the last three months. Corporate insiders own 6.90% of the company’s stock.
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 four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP), and MIC Hawaii. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, chemicals, renewable fuels, and vegetable and animal oils through a network of 19 marine terminals, including 17 in the United States and 2 in Canada.
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