Mercer Global Advisors Inc. ADV Purchases New Position in Macquarie Infrastructure Corp (MIC)

Mercer Global Advisors Inc. ADV purchased a new position in shares of Macquarie Infrastructure Corp (NYSE:MIC) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 10,484 shares of the conglomerate’s stock, valued at approximately $383,000.

Several other hedge funds also recently modified their holdings of the company. Cerebellum GP LLC purchased a new position in Macquarie Infrastructure in the 4th quarter valued at approximately $27,000. Bronfman E.L. Rothschild L.P. grew its stake in Macquarie Infrastructure by 63.5% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the conglomerate’s stock valued at $28,000 after buying an additional 299 shares in the last quarter. Nordea Investment Management AB purchased a new position in Macquarie Infrastructure in the 4th quarter valued at approximately $28,000. Quad Cities Investment Group LLC grew its stake in Macquarie Infrastructure by 128.0% in the 1st quarter. Quad Cities Investment Group LLC now owns 684 shares of the conglomerate’s stock valued at $28,000 after buying an additional 384 shares in the last quarter. Finally, Sage Capital Advisors llc purchased a new position in Macquarie Infrastructure in the 4th quarter valued at approximately $31,000. Institutional investors own 76.47% of the company’s stock.

In other news, major shareholder Group Ltd Macquarie purchased 1,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was purchased at an average cost of $40.61 per share, with a total value of $40,610.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 15.00% of the stock is owned by company insiders.

Shares of NYSE:MIC opened at $40.48 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.85. Macquarie Infrastructure Corp has a one year low of $33.71 and a one year high of $47.74. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.56 and a beta of 1.59.

Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings results on Wednesday, February 20th. The conglomerate reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.09). Macquarie Infrastructure had a net margin of 7.22% and a return on equity of 5.57%. The firm had revenue of $437.76 million during the quarter, compared to the consensus estimate of $453.40 million. On average, equities analysts expect that Macquarie Infrastructure Corp will post 4.78 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on MIC shares. Zacks Investment Research upgraded shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Tuesday, January 8th. ValuEngine lowered shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research note on Monday, February 4th. Royal Bank of Canada reiterated an “average” rating and issued a $47.00 price objective on shares of Macquarie Infrastructure in a research note on Tuesday, January 15th. Finally, Barclays set a $42.00 price objective on shares of Macquarie Infrastructure and gave the company a “hold” rating in a research note on Wednesday, January 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $47.17.

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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: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, specialty chemicals, renewable fuels, and vegetable and tropical oils through a network of 19 terminals, including 17 in the United States and 2 in Canada.

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Institutional Ownership by Quarter for Macquarie Infrastructure (NYSE:MIC)

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