Macquarie Infrastructure Co. (MIC) Stake Increased by Whittier Trust Co. of Nevada Inc.
Whittier Trust Co. of Nevada Inc. raised its position in Macquarie Infrastructure Co. (NYSE:MIC) by 33.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,424 shares of the company’s stock after buying an additional 863 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Macquarie Infrastructure were worth $254,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Eqis Capital Management Inc. boosted its stake in Macquarie Infrastructure by 1.4% in the second quarter. Eqis Capital Management Inc. now owns 6,064 shares of the company’s stock worth $449,000 after buying an additional 82 shares during the period. Springbok Capital Management LLC boosted its stake in Macquarie Infrastructure by 1.5% in the first quarter. Springbok Capital Management LLC now owns 11,317 shares of the company’s stock worth $763,000 after buying an additional 170 shares during the period. Whittier Trust Co. boosted its stake in Macquarie Infrastructure by 1.7% in the second quarter. Whittier Trust Co. now owns 34,312 shares of the company’s stock worth $2,541,000 after buying an additional 585 shares during the period. First Manhattan Co. boosted 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 worth $113,000 after buying an additional 600 shares during the period. Finally, IBM Retirement Fund boosted its stake in Macquarie Infrastructure by 8.7% in the second quarter. IBM Retirement Fund now owns 7,542 shares of the company’s stock worth $558,000 after buying an additional 601 shares during the period. 83.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Macquarie Infrastructure Co. (NYSE:MIC) traded down 1.58% during midday trading on Tuesday, reaching $82.38. The company had a trading volume of 159,859 shares. The company has a market capitalization of $6.72 billion, a P/E ratio of 77.64 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 firm’s 50 day moving average price is $81.72 and its 200-day moving average price is $75.01.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.20. Macquarie Infrastructure had a return on equity of 2.69% and a net margin of 5.28%. The company had revenue of $397.60 million for the quarter, compared to the consensus estimate of $399.95 million. Analysts anticipate that Macquarie Infrastructure Co. will post $3.02 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. TheStreet raised Macquarie Infrastructure from a “hold” rating to a “buy” rating in a report 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 report on Thursday, October 6th. Six equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $94.00.
In other 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 owns 49,021 shares in the company, valued at approximately $3,930,013.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 7.50% of the company’s stock.
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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