Marathon Capital Management decreased its position in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,735 shares of the conglomerate’s stock after selling 2,749 shares during the quarter. Macquarie Infrastructure comprises approximately 0.9% of Marathon Capital Management’s investment portfolio, making the stock its 20th largest position. Marathon Capital Management’s holdings in Macquarie Infrastructure were worth $2,178,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Quad Cities Investment Group LLC raised its holdings in Macquarie Infrastructure by 128.0% during the 1st quarter. Quad Cities Investment Group LLC now owns 684 shares of the conglomerate’s stock worth $28,000 after purchasing an additional 384 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Macquarie Infrastructure in the 4th quarter valued at $28,000. Advisory Services Network LLC increased its stake in shares of Macquarie Infrastructure by 209.6% in the 4th quarter. Advisory Services Network LLC now owns 1,548 shares of the conglomerate’s stock valued at $57,000 after acquiring an additional 1,048 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Macquarie Infrastructure in the 1st quarter valued at $67,000. Finally, First Hawaiian Bank bought a new stake in shares of Macquarie Infrastructure in the 1st quarter valued at $107,000. Hedge funds and other institutional investors own 73.13% of the company’s stock.
Several research firms have recently weighed in on MIC. Barclays lowered shares of Macquarie Infrastructure from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $42.00 to $40.00 in a research note on Tuesday, April 16th. Zacks Investment Research lowered shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a research note on Wednesday, May 29th. Royal Bank of Canada upgraded shares of Macquarie Infrastructure from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $48.00 to $51.00 in a research note on Tuesday, July 9th. Finally, ValuEngine lowered shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $48.25.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 12th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $4.00 annualized dividend and a dividend yield of 10.20%. Macquarie Infrastructure’s dividend payout ratio is currently 188.68%.
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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