Accident Compensation Corp raised its position in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 36.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,200 shares of the conglomerate’s stock after buying an additional 2,200 shares during the quarter. Accident Compensation Corp’s holdings in Macquarie Infrastructure were worth $378,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Girard Partners LTD. purchased a new position in Macquarie Infrastructure during the 3rd quarter valued at approximately $108,000. NumerixS Investment Technologies Inc bought a new stake in shares of Macquarie Infrastructure in the 2nd quarter valued at approximately $122,000. Sandy Spring Bank lifted its stake in shares of Macquarie Infrastructure by 84.4% in the 2nd quarter. Sandy Spring Bank now owns 4,360 shares of the conglomerate’s stock valued at $184,000 after purchasing an additional 1,995 shares during the last quarter. Comprehensive Portfolio Management LLC bought a new stake in shares of Macquarie Infrastructure in the 3rd quarter valued at approximately $208,000. Finally, Private Advisor Group LLC bought a new stake in shares of Macquarie Infrastructure in the 3rd quarter valued at approximately $208,000. Institutional investors and hedge funds own 80.23% of the company’s stock.
In other Macquarie Infrastructure news, CEO Christopher Frost purchased 25,160 shares of the firm’s stock in a transaction that occurred on Monday, November 26th. The stock was purchased at an average cost of $39.73 per share, with a total value of $999,606.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Group Ltd Macquarie purchased 149,812 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The shares were acquired at an average cost of $46.56 per share, with a total value of $6,975,246.72. The disclosure for this purchase can be found here. Insiders bought a total of 321,494 shares of company stock valued at $14,707,107 over the last ninety days. Corporate insiders own 6.90% of the company’s stock.
NYSE:MIC opened at $41.50 on Thursday. The company has a market capitalization of $3.57 billion, a PE ratio of 16.21 and a beta of 1.47. Macquarie Infrastructure Corp has a 1 year low of $36.20 and a 1 year high of $67.84. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.42 and a quick ratio of 1.39.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Wednesday, October 31st. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.27). The company had revenue of $473.28 million during the quarter, compared to the consensus estimate of $476.20 million. Macquarie Infrastructure had a net margin of 25.26% and a return on equity of 5.81%.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 12th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 9.64%. The ex-dividend date was Thursday, November 8th. Macquarie Infrastructure’s payout ratio is 156.25%.
MIC has been the subject of several analyst reports. Oppenheimer set a $60.00 price objective on Macquarie Infrastructure and gave the company a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research lowered Macquarie Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $51.00.
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Macquarie Infrastructure Company 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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