Truvestments Capital LLC Purchases New Stake in Macquarie Infrastructure Corp (MIC)
Truvestments Capital LLC purchased a new position in shares of Macquarie Infrastructure Corp (NYSE:MIC) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 1,615 shares of the conglomerate’s stock, valued at approximately $67,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of MIC. Quad Cities Investment Group LLC grew its position in shares of Macquarie Infrastructure by 128.0% in the 1st quarter. Quad Cities Investment Group LLC now owns 684 shares of the conglomerate’s stock worth $28,000 after buying an additional 384 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Macquarie Infrastructure in the 1st quarter valued at approximately $107,000. Deutsche Bank AG lifted its stake in shares of Macquarie Infrastructure by 7.5% in the 4th quarter. Deutsche Bank AG now owns 109,621 shares of the conglomerate’s stock valued at $4,006,000 after purchasing an additional 7,671 shares during the period. Norges Bank purchased a new position in shares of Macquarie Infrastructure in the 4th quarter valued at approximately $6,273,000. Finally, Griffin Asset Management Inc. lifted its stake in shares of Macquarie Infrastructure by 3.8% in the 4th quarter. Griffin Asset Management Inc. now owns 27,091 shares of the conglomerate’s stock valued at $990,000 after purchasing an additional 987 shares during the period. Institutional investors and hedge funds own 76.59% of the company’s stock.
In related news, major shareholder Group Ltd Macquarie acquired 1,000 shares of the stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $40.61 per share, for a total transaction of $40,610.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.90% of the stock is currently owned by insiders.
Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings data on Wednesday, February 20th. The conglomerate reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.09). The company had revenue of $437.76 million for the quarter, compared to analysts’ expectations of $453.40 million. Macquarie Infrastructure had a net margin of 7.22% and a return on equity of 5.57%. As a group, research analysts anticipate that Macquarie Infrastructure Corp will post 2.91 EPS for the current year.
MIC has been the subject of a number of research analyst reports. Zacks Investment Research cut Macquarie Infrastructure from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 target price (down previously from $45.00) on shares of Macquarie Infrastructure in a research note on Thursday, February 21st. ValuEngine upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Barclays set a $42.00 target price on Macquarie Infrastructure and gave the company a “hold” rating in a research note on Wednesday, January 16th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $47.50.
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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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