Sit Investment Associates Inc. reduced its position in Macquarie Infrastructure Co. (NYSE:MIC) by 47.0% during the second quarter, Holdings Channel reports. The firm owned 343,337 shares of the company’s stock after selling 304,463 shares during the period. Sit Investment Associates Inc.’s holdings in Macquarie Infrastructure were worth $25,424,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of MIC. Harvest Fund Advisors LLC raised its stake in Macquarie Infrastructure by 9.9% in the first quarter. Harvest Fund Advisors LLC now owns 2,919,636 shares of the company’s stock worth $196,900,000 after buying an additional 263,838 shares during the period. State Street Corp increased its position in shares of Macquarie Infrastructure by 17.0% in the first quarter. State Street Corp now owns 914,576 shares of the company’s stock worth $61,676,000 after buying an additional 133,201 shares in the last quarter. Miller Howard Investments Inc. NY increased its position in shares of Macquarie Infrastructure by 5.1% in the second quarter. Miller Howard Investments Inc. NY now owns 178,171 shares of the company’s stock worth $13,194,000 after buying an additional 8,717 shares in the last quarter. Keane Capital Partners LLC bought a new position in shares of Macquarie Infrastructure during the first quarter worth approximately $809,000. Finally, GW&K Investment Management LLC increased its position in shares of Macquarie Infrastructure by 63.4% in the second quarter. GW&K Investment Management LLC now owns 427,781 shares of the company’s stock worth $31,677,000 after buying an additional 165,942 shares in the last quarter. 83.21% of the stock is currently owned by institutional investors.
Macquarie Infrastructure Co. (NYSE:MIC) traded up 0.68% during trading on Wednesday, hitting $82.40. 256,914 shares of the stock were exchanged. The stock has a market cap of $6.72 billion, a P/E ratio of 77.66 and a beta of 1.02. The stock’s 50 day moving average price is $81.43 and its 200 day moving average price is $74.49. Macquarie Infrastructure Co. has a 12 month low of $51.83 and a 12 month high of $85.00.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by $0.20. The business had revenue of $397.60 million for the quarter, compared to analyst estimates of $399.95 million. Macquarie Infrastructure had a return on equity of 2.69% and a net margin of 5.28%. Analysts forecast that Macquarie Infrastructure Co. will post $3.03 EPS for the current fiscal year.
A number of equities analysts have commented on MIC shares. Zacks Investment Research upgraded shares of Macquarie Infrastructure from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 14th. TheStreet upgraded shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating in a research note on Tuesday, August 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $88.33.
In related news, Director Norman H. Brown, Jr. sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $80.17, for a total transaction of $320,680.00. Following the transaction, the director now directly owns 49,021 shares in the company, valued at $3,930,013.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.50% of the company’s stock.
Macquarie Infrastructure Company Profile
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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