Macquarie Infrastructure Corp (MIC) Shares Bought by RiverPark Advisors LLC
RiverPark Advisors LLC boosted its stake in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 14.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,300 shares of the conglomerate’s stock after purchasing an additional 3,400 shares during the quarter. RiverPark Advisors LLC’s holdings in Macquarie Infrastructure were worth $1,971,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in MIC. US Bancorp DE boosted its position in Macquarie Infrastructure by 1.0% during the second quarter. US Bancorp DE now owns 2,693 shares of the conglomerate’s stock worth $211,000 after purchasing an additional 26 shares during the period. Public Employees Retirement Association of Colorado boosted its position in Macquarie Infrastructure by 0.5% during the second quarter. Public Employees Retirement Association of Colorado now owns 18,124 shares of the conglomerate’s stock worth $1,421,000 after purchasing an additional 83 shares during the period. Janney Montgomery Scott LLC boosted its position in Macquarie Infrastructure by 27.6% during the second quarter. Janney Montgomery Scott LLC now owns 11,895 shares of the conglomerate’s stock worth $933,000 after purchasing an additional 2,576 shares during the period. World Asset Management Inc boosted its position in Macquarie Infrastructure by 0.3% during the second quarter. World Asset Management Inc now owns 2,736 shares of the conglomerate’s stock worth $215,000 after purchasing an additional 9 shares during the period. Finally, Sei Investments Co. boosted its position in Macquarie Infrastructure by 30.0% during the second quarter. Sei Investments Co. now owns 76,197 shares of the conglomerate’s stock worth $5,974,000 after purchasing an additional 17,571 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on MIC. Zacks Investment Research cut shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Saturday, November 18th. SunTrust Banks reduced their target price on shares of Macquarie Infrastructure to $75.00 and set a “buy” rating for the company in a research report on Wednesday, November 15th. Finally, BidaskClub cut shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Macquarie Infrastructure currently has an average rating of “Hold” and an average price target of $83.75.
In other news, Director Norman H. Brown, Jr. sold 1,732 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $65.87, for a total value of $114,086.84. Following the completion of the sale, the director now owns 49,076 shares of the company’s stock, valued at $3,232,636.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.90% of the company’s stock.
Shares of Macquarie Infrastructure Corp (NYSE MIC) traded down $0.51 during trading on Thursday, hitting $65.60. 578,000 shares of the stock were exchanged, compared to its average volume of 599,738. The company has a market capitalization of $5,590.53, a PE ratio of 31.04 and a beta of 0.86. Macquarie Infrastructure Corp has a 52 week low of $63.08 and a 52 week high of $83.66. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.93 and a current ratio of 1.07.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 8.66%. The ex-dividend date was Friday, November 10th. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.38. Macquarie Infrastructure’s payout ratio is presently 266.67%.
Macquarie Infrastructure Company Profile
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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