United Capital Financial Advisers LLC lessened its stake in Macquarie Infrastructure Corp (NYSE:MIC) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 661,997 shares of the conglomerate’s stock after selling 5,072 shares during the quarter. United Capital Financial Advisers LLC owned approximately 0.77% of Macquarie Infrastructure worth $26,837,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in Macquarie Infrastructure by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,717,264 shares of the conglomerate’s stock valued at $99,343,000 after acquiring an additional 62,823 shares during the period. Renaissance Technologies LLC grew its position in Macquarie Infrastructure by 30.9% in the second quarter. Renaissance Technologies LLC now owns 1,511,700 shares of the conglomerate’s stock worth $61,284,000 after acquiring an additional 357,200 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Macquarie Infrastructure by 49.8% in the second quarter. CIBC Private Wealth Group LLC now owns 1,177,130 shares of the conglomerate’s stock worth $47,721,000 after acquiring an additional 391,505 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Macquarie Infrastructure by 2.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 526,432 shares of the conglomerate’s stock worth $21,342,000 after acquiring an additional 13,557 shares in the last quarter. Finally, Martingale Asset Management L P grew its position in Macquarie Infrastructure by 7,403.6% in the first quarter. Martingale Asset Management L P now owns 495,760 shares of the conglomerate’s stock worth $20,437,000 after acquiring an additional 489,153 shares in the last quarter. 57.71% of the stock is currently owned by institutional investors.
MIC has been the subject of several research reports. ValuEngine lowered shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research lowered shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating and set a $42.00 price target for the company. in a research report on Wednesday, May 29th. Finally, Royal Bank of Canada upgraded shares of Macquarie Infrastructure from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $48.00 to $51.00 in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $48.25.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.25. Macquarie Infrastructure had a net margin of 5.66% and a return on equity of 10.42%. The company had revenue of $416.00 million during the quarter, compared to the consensus estimate of $412.30 million. Research analysts expect that Macquarie Infrastructure Corp will post 4.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 10.34%. The ex-dividend date was Friday, August 9th. Macquarie Infrastructure’s payout ratio is currently 188.68%.
Macquarie Infrastructure 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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