Cornerstone Wealth Management LLC bought a new position in shares of Macquarie Infrastructure Corp (NYSE:MIC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 23,568 shares of the conglomerate’s stock, valued at approximately $560,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. A. D. Beadell Investment Counsel Inc. increased its position in Macquarie Infrastructure by 13.4% in the second quarter. A. D. Beadell Investment Counsel Inc. now owns 18,480 shares of the conglomerate’s stock worth $779,000 after buying an additional 2,185 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Macquarie Infrastructure by 38.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 30,200 shares of the conglomerate’s stock valued at $1,274,000 after purchasing an additional 8,400 shares during the period. Atria Investments LLC boosted its position in shares of Macquarie Infrastructure by 52.4% in the 2nd quarter. Atria Investments LLC now owns 13,312 shares of the conglomerate’s stock valued at $562,000 after purchasing an additional 4,575 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Macquarie Infrastructure by 40.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,790 shares of the conglomerate’s stock valued at $370,000 after purchasing an additional 2,510 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Macquarie Infrastructure by 159.4% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,469 shares of the conglomerate’s stock valued at $719,000 after purchasing an additional 11,965 shares during the period. Institutional investors own 71.52% of the company’s stock.
In other Macquarie Infrastructure news, Director Infrastructure Manag Macquarie purchased 404,519 shares of the stock in a transaction on Tuesday, June 5th. The stock was bought at an average cost of $39.01 per share, for a total transaction of $15,780,286.19. Following the completion of the acquisition, the director now directly owns 8,072,172 shares of the company’s stock, valued at $314,895,429.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Liam Stewart purchased 1,470 shares of the stock in a transaction on Tuesday, August 28th. The stock was acquired at an average price 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 of the company’s stock, valued at $33,304.51. The disclosure for this purchase can be found here. Insiders purchased 3,054,419 shares of company stock valued at $131,451,576 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.
Macquarie Infrastructure (NYSE:MIC) last released its earnings results on Wednesday, August 1st. The conglomerate reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $478.08 million during the quarter, compared to the consensus estimate of $441.10 million. Macquarie Infrastructure had a return on equity of 6.32% and a net margin of 26.49%. equities research analysts predict that Macquarie Infrastructure Corp will post 2.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Monday, August 13th were issued a $1.00 dividend. The ex-dividend date was Friday, August 10th. This represents a $4.00 dividend on an annualized basis and a yield of 8.50%. Macquarie Infrastructure’s dividend payout ratio is presently 156.25%.
A number of equities research analysts have commented on the company. Zacks Investment Research lowered Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Barclays lifted their price target on Macquarie Infrastructure from $41.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, July 11th. Oppenheimer set a $60.00 price objective on Macquarie Infrastructure and gave the company a “buy” rating in a research note on Thursday, May 3rd. SunTrust Banks set a $49.00 price target on Macquarie Infrastructure and gave the stock a “hold” rating in a research report on Monday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Macquarie Infrastructure from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Macquarie Infrastructure has a consensus rating of “Hold” and an average target price of $51.00.
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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