Quantbot Technologies LP grew its stake in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 521.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,395 shares of the conglomerate’s stock after buying an additional 12,078 shares during the quarter. Quantbot Technologies LP’s holdings in Macquarie Infrastructure were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Waterfront Capital Partners LLC raised its holdings in shares of Macquarie Infrastructure by 27.8% in the 3rd quarter. Waterfront Capital Partners LLC now owns 600,644 shares of the conglomerate’s stock worth $27,708,000 after purchasing an additional 130,644 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Macquarie Infrastructure in the 3rd quarter worth approximately $2,131,000. CIBC World Markets Inc. raised its holdings in shares of Macquarie Infrastructure by 11.1% in the 3rd quarter. CIBC World Markets Inc. now owns 28,172 shares of the conglomerate’s stock worth $1,300,000 after purchasing an additional 2,805 shares in the last quarter. FMR LLC raised its holdings in shares of Macquarie Infrastructure by 0.7% in the 3rd quarter. FMR LLC now owns 1,621,374 shares of the conglomerate’s stock worth $74,793,000 after purchasing an additional 11,478 shares in the last quarter. Finally, CI Investments Inc. increased its position in shares of Macquarie Infrastructure by 8.1% in the third quarter. CI Investments Inc. now owns 217,768 shares of the conglomerate’s stock worth $10,046,000 after acquiring an additional 16,348 shares in the last quarter. Institutional investors own 80.23% of the company’s stock.
Macquarie Infrastructure stock opened at $41.25 on Friday. The company has a market capitalization of $3.55 billion, a PE ratio of 16.11 and a beta of 1.47. The company has a current ratio of 1.42, a quick ratio of 1.39 and a debt-to-equity ratio of 0.94. Macquarie Infrastructure Corp has a fifty-two week low of $36.20 and a fifty-two week high of $67.84.
Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings data on Wednesday, October 31st. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.27). Macquarie Infrastructure had a net margin of 25.26% and a return on equity of 5.81%. The company had revenue of $473.28 million for the quarter, compared to analysts’ expectations of $476.20 million.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 12th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 9.70%. The ex-dividend date was Thursday, November 8th. Macquarie Infrastructure’s payout ratio is presently 156.25%.
Several research analysts have recently weighed in on the stock. Oppenheimer set a $60.00 target price on shares of Macquarie Infrastructure and gave the stock a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research downgraded shares of Macquarie Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Macquarie Infrastructure presently has a consensus rating of “Hold” and a consensus price target of $51.00.
In related news, CEO Christopher Frost acquired 25,160 shares of the stock in a transaction that occurred on Monday, November 26th. The shares were purchased at an average cost of $39.73 per share, with a total value of $999,606.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Group Ltd Macquarie acquired 37,100 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were bought at an average cost of $46.65 per share, for a total transaction of $1,730,715.00. The disclosure for this purchase can be found here. Insiders have purchased 321,494 shares of company stock worth $14,707,107 over the last ninety days. 6.90% of the stock is currently owned by insiders.
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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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