Capital Fund Management S.A. cut its stake in shares of Macquarie Infrastructure Co. (NYSE:MIC) by 73.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,002 shares of the company’s stock after selling 60,124 shares during the period. Capital Fund Management S.A.’s holdings in Macquarie Infrastructure were worth $1,629,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. First Manhattan Co. increased its stake in Macquarie Infrastructure by 64.5% in the second quarter. First Manhattan Co. now owns 1,530 shares of the company’s stock valued at $113,000 after buying an additional 600 shares in the last quarter. RKL Wealth Management LLC purchased a new stake in Macquarie Infrastructure during the second quarter valued at about $203,000. Country Club Trust Company n.a. purchased a new stake in Macquarie Infrastructure during the second quarter valued at about $222,000. Concorde Asset Management LLC purchased a new stake in Macquarie Infrastructure during the second quarter valued at about $243,000. Finally, Webster Bank N. A. purchased a new stake in Macquarie Infrastructure during the second quarter valued at about $288,000. 83.21% of the stock is currently owned by hedge funds and other institutional investors.
Macquarie Infrastructure Co. (NYSE:MIC) traded down 0.16% during mid-day trading on Friday, hitting $82.76. The company had a trading volume of 667,292 shares. The firm has a market capitalization of $6.75 billion, a PE ratio of 78.00 and a beta of 1.02. Macquarie Infrastructure Co. has a 12-month low of $51.83 and a 12-month high of $85.00. The company’s 50 day moving average price is $81.63 and its 200-day moving average price is $74.73.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.20. The company earned $397.60 million during the quarter, compared to analyst estimates of $399.95 million. Macquarie Infrastructure had a net margin of 5.28% and a return on equity of 2.69%. On average, analysts forecast that Macquarie Infrastructure Co. will post $3.02 EPS for the current fiscal year.
Several analysts have issued reports on the company. TheStreet raised Macquarie Infrastructure from a “hold” rating to a “buy” rating in a research note on Tuesday, August 2nd. Zacks Investment Research raised Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $94.00.
In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $80.17, for a total transaction of $320,680.00. Following the sale, the director now owns 49,021 shares of the company’s stock, valued at $3,930,013.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.50% of the stock is owned by corporate insiders.
About Macquarie Infrastructure
Macquarie Infrastructure Corporation owns, operates and invests in a diversified group of infrastructure businesses providing basic services to customers in the United States. Its businesses consist of a bulk liquid terminals business, International-Matex Tank Terminals, an airport services business, Atlantic Aviation, a gas processing and distribution business, Hawaii Gas, and entities comprising a Contracted Power and Energy segment.
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