Overbrook Management Corp Purchases 20,688 Shares of Macquarie Infrastructure Company (MIC)
Overbrook Management Corp increased its position in shares of Macquarie Infrastructure Company (NYSE:MIC) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 598,148 shares of the conglomerate’s stock after buying an additional 20,688 shares during the quarter. Macquarie Infrastructure comprises about 10.1% of Overbrook Management Corp’s portfolio, making the stock its biggest position. Overbrook Management Corp owned approximately 0.72% of Macquarie Infrastructure worth $46,895,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Macquarie Infrastructure by 9.5% during the 1st quarter. Vanguard Group Inc. now owns 6,313,859 shares of the conglomerate’s stock worth $508,770,000 after buying an additional 545,647 shares during the period. Macquarie Group Ltd. increased its holdings in Macquarie Infrastructure by 7.9% during the 1st quarter. Macquarie Group Ltd. now owns 4,891,320 shares of the conglomerate’s stock worth $394,143,000 after purchasing an additional 356,949 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Macquarie Infrastructure by 0.6% during the 2nd quarter. Principal Financial Group Inc. now owns 2,468,616 shares of the conglomerate’s stock worth $193,540,000 after purchasing an additional 14,255 shares in the last quarter. State Street Corp increased its holdings in Macquarie Infrastructure by 18.2% during the 1st quarter. State Street Corp now owns 1,749,011 shares of the conglomerate’s stock worth $140,932,000 after purchasing an additional 269,761 shares in the last quarter. Finally, Selz Capital LLC increased its holdings in Macquarie Infrastructure by 1.7% during the 2nd quarter. Selz Capital LLC now owns 1,041,049 shares of the conglomerate’s stock worth $81,618,000 after purchasing an additional 17,029 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Macquarie Infrastructure Company (NYSE MIC) traded down 0.72% during mid-day trading on Wednesday, reaching $73.03. The company’s stock had a trading volume of 261,208 shares. The company has a market cap of $6.04 billion, a P/E ratio of 35.11 and a beta of 0.87. Macquarie Infrastructure Company has a 12 month low of $71.23 and a 12 month high of $85.45. The company has a 50-day moving average of $74.08 and a 200-day moving average of $77.35.
Macquarie Infrastructure (NYSE:MIC) last released its earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share (EPS) 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 business had revenue of $438.99 million for the quarter, compared to analysts’ expectations of $416.50 million. Equities research analysts forecast that Macquarie Infrastructure Company will post $1.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 7.50%. This is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.32. The ex-dividend date was Thursday, August 10th. Macquarie Infrastructure’s dividend payout ratio (DPR) is presently 255.56%.
A number of analysts have commented on the company. BidaskClub lowered Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Zacks Investment Research lowered Macquarie Infrastructure from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Finally, Barclays PLC lowered Macquarie Infrastructure from an “overweight” rating to a “hold” rating and decreased their price objective for the stock from $89.00 to $83.00 in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $88.75.
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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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