Miller Howard Investments Inc. NY decreased its stake in Macquarie Infrastructure Company (NYSE:MIC) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,288 shares of the conglomerate’s stock after selling 273 shares during the period. Miller Howard Investments Inc. NY owned about 0.18% of Macquarie Infrastructure worth $11,939,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth Financial Services LLC bought a new position in Macquarie Infrastructure during the first quarter valued at $119,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Macquarie Infrastructure during the first quarter valued at $121,000. Mn Services Vermogensbeheer B.V. raised its position in Macquarie Infrastructure by 3.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,078 shares of the conglomerate’s stock valued at $157,000 after buying an additional 73 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Macquarie Infrastructure by 244.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,997 shares of the conglomerate’s stock valued at $161,000 after buying an additional 1,418 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in shares of Macquarie Infrastructure by 412.5% in the first quarter. Daiwa Securities Group Inc. now owns 2,050 shares of the conglomerate’s stock valued at $165,000 after buying an additional 1,650 shares in the last quarter. 86.10% of the stock is currently owned by hedge funds and other institutional investors.
Macquarie Infrastructure Company (MIC) traded down 0.07% during trading on Friday, hitting $76.14. The stock had a trading volume of 338,798 shares. The stock has a market capitalization of $6.28 billion, a P/E ratio of 36.61 and a beta of 0.92. Macquarie Infrastructure Company has a 52 week low of $73.24 and a 52 week high of $85.45. The company has a 50-day moving average of $77.16 and a 200-day moving average of $78.50.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.26. Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. The firm had revenue of $438.99 million for the quarter, compared to the consensus estimate of $416.50 million. On average, equities analysts expect that Macquarie Infrastructure Company will post $2.07 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be issued a $1.38 dividend. This is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.32. This represents a $5.52 dividend on an annualized basis and a yield of 7.25%. The ex-dividend date is Thursday, August 10th. Macquarie Infrastructure’s payout ratio is presently 244.45%.
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Several research analysts have recently commented on the company. BidaskClub downgraded Macquarie Infrastructure from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Barclays PLC downgraded Macquarie Infrastructure from an “overweight” rating to a “hold” rating and reduced their target price for the stock from $89.00 to $83.00 in a research note on Tuesday, July 18th. Finally, Zacks Investment Research downgraded Macquarie Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, April 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Macquarie Infrastructure has an average rating of “Hold” and an average price target of $88.75.
About Macquarie Infrastructure
Macquarie Infrastructure Corporation owns and operates a group of businesses that provide services, such as bulk liquid terminalling and handling services. The Company operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP) and MIC Hawaii. Its group of businesses also provides services, such as aircraft fueling, CP generation and utility gas services.
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