Private Ocean LLC Acquires New Stake in Macquarie Infrastructure Corp (NYSE:MIC)

Private Ocean LLC acquired a new stake in Macquarie Infrastructure Corp (NYSE:MIC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,062 shares of the conglomerate’s stock, valued at approximately $121,000.

Other institutional investors have also recently bought and sold shares of the company. Osborn Williams & Donohoe LLC lifted its position in shares of Macquarie Infrastructure by 1.5% during the third quarter. Osborn Williams & Donohoe LLC now owns 20,005 shares of the conglomerate’s stock worth $790,000 after acquiring an additional 300 shares in the last quarter. Ridgewood Investments LLC increased its holdings in shares of Macquarie Infrastructure by 3.5% in the second quarter. Ridgewood Investments LLC now owns 9,843 shares of the conglomerate’s stock worth $399,000 after purchasing an additional 333 shares during the period. Boston Family Office LLC increased its holdings in shares of Macquarie Infrastructure by 3.1% in the second quarter. Boston Family Office LLC now owns 11,520 shares of the conglomerate’s stock worth $467,000 after purchasing an additional 344 shares during the period. Sandy Spring Bank increased its holdings in shares of Macquarie Infrastructure by 22.7% in the third quarter. Sandy Spring Bank now owns 2,700 shares of the conglomerate’s stock worth $107,000 after purchasing an additional 500 shares during the period. Finally, Bank of Hawaii increased its holdings in shares of Macquarie Infrastructure by 4.8% in the second quarter. Bank of Hawaii now owns 13,175 shares of the conglomerate’s stock worth $534,000 after purchasing an additional 605 shares during the period. Institutional investors and hedge funds own 57.55% of the company’s stock.

Several research firms have recently weighed in on MIC. TD Securities decreased their price target on shares of Macquarie Infrastructure from $57.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. CIBC reaffirmed an “average” rating and issued a $56.00 price target on shares of Macquarie Infrastructure in a report on Thursday, October 31st. Barclays set a $39.00 price target on shares of Macquarie Infrastructure and gave the stock a “sell” rating in a report on Tuesday, October 15th. Finally, National Bank Financial upped their price target on shares of Macquarie Infrastructure from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $50.33.

Shares of Macquarie Infrastructure stock traded down $0.11 during trading on Friday, hitting $40.80. The stock had a trading volume of 434,758 shares, compared to its average volume of 625,215. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 19.25 and a beta of 1.40. The company has a current ratio of 2.53, a quick ratio of 1.56 and a debt-to-equity ratio of 1.03. Macquarie Infrastructure Corp has a 12 month low of $33.71 and a 12 month high of $43.83. The business’s 50-day moving average is $39.77 and its 200 day moving average is $40.05.

Macquarie Infrastructure (NYSE:MIC) last released its earnings results on Thursday, October 31st. The conglomerate reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.35. The business had revenue of $405.00 million for the quarter, compared to analysts’ expectations of $417.40 million. Macquarie Infrastructure had a return on equity of 12.64% and a net margin of 8.14%. As a group, equities analysts expect that Macquarie Infrastructure Corp will post 4.82 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a $1.00 dividend. The ex-dividend date is Thursday, November 7th. This represents a $4.00 dividend on an annualized basis and a yield of 9.80%. Macquarie Infrastructure’s dividend payout ratio is presently 188.68%.

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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Institutional Ownership by Quarter for Macquarie Infrastructure (NYSE:MIC)

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