Shares of Macquarie Infrastructure Co. (NYSE:MIC) rose 2.4% on Tuesday . The stock traded as high as $78.85 and last traded at $78.05, with a volume of 550,250 shares changing hands. The stock had previously closed at $76.19.

MIC has been the subject of several research reports. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Macquarie Infrastructure in a report on Thursday, June 2nd. Barclays PLC reaffirmed a “buy” rating on shares of Macquarie Infrastructure in a research note on Tuesday, April 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $91.25.

The firm has a market cap of $6.23 billion and a price-to-earnings ratio of 2214.00. The firm’s 50 day moving average price is $74.11 and its 200-day moving average price is $68.34.

Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.24 EPS 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 analysts’ expectations of $399.95 million. Equities analysts expect that Macquarie Infrastructure Co. will post $1.63 EPS for the current year.

Other hedge funds have recently made changes to their positions in the company. Eagle Asset Management boosted its stake in shares of Macquarie Infrastructure by 12.1% in the third quarter. Eagle Asset Management now owns 373,448 shares of the company’s stock worth $27,880,000 after buying an additional 40,310 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Macquarie Infrastructure by 21.0% in the fourth quarter. Sei Investments Co. now owns 21,691 shares of the company’s stock worth $1,575,000 after buying an additional 3,763 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Macquarie Infrastructure by 5.0% in the fourth quarter. Rhumbline Advisers now owns 44,127 shares of the company’s stock worth $3,204,000 after buying an additional 2,095 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Macquarie Infrastructure by 3.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,254 shares of the company’s stock worth $1,254,000 after buying an additional 501 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Macquarie Infrastructure by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 4,790,230 shares of the company’s stock worth $347,772,000 after buying an additional 139,217 shares in the last quarter.

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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