LS Investment Advisors LLC Has $163,000 Position in Macquarie Infrastructure Company (NYSE:MIC)
LS Investment Advisors LLC maintained its stake in Macquarie Infrastructure Company (NYSE:MIC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,074 shares of the conglomerate’s stock at the end of the second quarter. LS Investment Advisors LLC’s holdings in Macquarie Infrastructure were worth $163,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Macquarie Infrastructure by 9.5% in the first quarter. Vanguard Group Inc. now owns 6,313,859 shares of the conglomerate’s stock valued at $508,770,000 after buying an additional 545,647 shares during the period. Macquarie Group Ltd. increased its stake in Macquarie Infrastructure by 7.9% in the first quarter. Macquarie Group Ltd. now owns 4,891,320 shares of the conglomerate’s stock valued at $394,143,000 after buying an additional 356,949 shares during the period. State Street Corp increased its stake in Macquarie Infrastructure by 18.2% in the first quarter. State Street Corp now owns 1,749,011 shares of the conglomerate’s stock valued at $140,932,000 after buying an additional 269,761 shares during the period. Selz Capital LLC increased its stake in Macquarie Infrastructure by 1.7% in the first quarter. Selz Capital LLC now owns 1,024,020 shares of the conglomerate’s stock valued at $82,516,000 after buying an additional 17,117 shares during the period. Finally, RidgeWorth Capital Management LLC increased its stake in Macquarie Infrastructure by 99.2% in the first quarter. RidgeWorth Capital Management LLC now owns 765,525 shares of the conglomerate’s stock valued at $61,686,000 after buying an additional 381,175 shares during the period. 86.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of Macquarie Infrastructure Company (NYSE:MIC) traded down 0.50% on Wednesday, hitting $75.15. The stock had a trading volume of 206,748 shares. The company has a market cap of $6.19 billion, a P/E ratio of 36.13 and a beta of 0.92. Macquarie Infrastructure Company has a 12 month low of $73.24 and a 12 month high of $85.45. The company’s 50 day moving average price is $77.05 and its 200-day moving average price is $78.45.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.26. The business had revenue of $438.99 million during the quarter, compared to analyst estimates of $416.50 million. Macquarie Infrastructure had a return on equity of 5.71% and a net margin of 10.12%. On average, analysts expect that Macquarie Infrastructure Company will post $1.92 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be given a $1.38 dividend. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, August 10th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 7.31%. Macquarie Infrastructure’s dividend payout ratio (DPR) is presently 244.45%.
Several equities research analysts have commented on MIC shares. Zacks Investment Research raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. BidaskClub raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Barclays PLC downgraded Macquarie Infrastructure from an “overweight” rating to a “hold” rating and dropped their target price for the stock from $89.00 to $83.00 in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Macquarie Infrastructure currently has an average rating of “Hold” and an average price target of $88.75.
About Macquarie Infrastructure
Macquarie Infrastructure Corporation owns and operates a group of businesses that provide services, such as bulk liquid terminalling and handling services. The Company operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP) and MIC Hawaii. Its group of businesses also provides services, such as aircraft fueling, CP generation and utility gas services.
Want to see what other hedge funds are holding MIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macquarie Infrastructure Company (NYSE:MIC).
Receive News & Ratings for Macquarie Infrastructure Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macquarie Infrastructure Company and related companies with MarketBeat.com's FREE daily email newsletter.