Essex Financial Services Inc. Decreases Stake in Macquarie Infrastructure Co. (MIC)
Essex Financial Services Inc. cut its stake in shares of Macquarie Infrastructure Co. (NYSE:MIC) by 56.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,813 shares of the company’s stock after selling 3,700 shares during the period. Essex Financial Services Inc.’s holdings in Macquarie Infrastructure were worth $208,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Eqis Capital Management Inc. boosted its position in Macquarie Infrastructure by 1.4% in the second quarter. Eqis Capital Management Inc. now owns 6,064 shares of the company’s stock valued at $449,000 after buying an additional 82 shares in the last quarter. Springbok Capital Management LLC boosted its position in Macquarie Infrastructure by 1.5% in the first quarter. Springbok Capital Management LLC now owns 11,317 shares of the company’s stock valued at $763,000 after buying an additional 170 shares in the last quarter. Whittier Trust Co. boosted its position in Macquarie Infrastructure by 1.7% in the second quarter. Whittier Trust Co. now owns 34,312 shares of the company’s stock valued at $2,541,000 after buying an additional 585 shares in the last quarter. First Manhattan Co. boosted its position 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. Finally, IBM Retirement Fund boosted its position in Macquarie Infrastructure by 8.7% in the second quarter. IBM Retirement Fund now owns 7,542 shares of the company’s stock valued at $558,000 after buying an additional 601 shares in the last quarter. Institutional investors and hedge funds own 83.21% of the company’s stock.
Shares of Macquarie Infrastructure Co. (NYSE:MIC) traded up 0.15% during trading on Thursday, reaching $82.74. The company’s stock had a trading volume of 306,875 shares. Macquarie Infrastructure Co. has a 12 month low of $51.83 and a 12 month high of $85.00. The firm has a market cap of $6.75 billion, a PE ratio of 77.98 and a beta of 1.02. The company’s 50 day moving average price is $81.86 and its 200 day moving average price is $75.12.
Macquarie Infrastructure (NYSE:MIC) last posted 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. Macquarie Infrastructure had a return on equity of 2.69% and a net margin of 5.28%. The business had revenue of $397.60 million for the quarter, compared to analyst estimates of $399.95 million. On average, equities analysts predict that Macquarie Infrastructure Co. will post $3.02 earnings per share for the current year.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Macquarie Infrastructure from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 14th. TheStreet upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating in a report on Tuesday, August 2nd. Six equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus 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 on Tuesday, August 16th. The stock was sold at an average price of $80.17, for a total transaction of $320,680.00. Following the completion of the transaction, the director now owns 49,021 shares of the company’s stock, valued at approximately $3,930,013.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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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