Rockland Trust Co. Purchases Shares of 19,694 Macquarie Infrastructure Company (NYSE:MIC)
Rockland Trust Co. purchased a new stake in Macquarie Infrastructure Company (NYSE:MIC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,694 shares of the conglomerate’s stock, valued at approximately $1,544,000.
Other institutional investors also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. bought a new position in Macquarie Infrastructure during the second quarter valued at $165,000. American Assets Capital Advisers increased its position in Macquarie Infrastructure by 67.3% in the second quarter. American Assets Capital Advisers now owns 145,254 shares of the conglomerate’s stock valued at $11,425,000 after buying an additional 58,418 shares during the last quarter. IFP Advisors Inc increased its position in Macquarie Infrastructure by 21.2% in the second quarter. IFP Advisors Inc now owns 4,404 shares of the conglomerate’s stock valued at $345,000 after buying an additional 770 shares during the last quarter. Sei Investments Co. increased its position in Macquarie Infrastructure by 30.0% in the second quarter. Sei Investments Co. now owns 76,197 shares of the conglomerate’s stock valued at $5,974,000 after buying an additional 17,571 shares during the last quarter. Finally, World Asset Management Inc increased its position in Macquarie Infrastructure by 0.3% in the second quarter. World Asset Management Inc now owns 2,736 shares of the conglomerate’s stock valued at $215,000 after buying an additional 9 shares during the last quarter. 86.02% of the stock is owned by institutional investors.
Macquarie Infrastructure Company (MIC) opened at 75.53 on Wednesday. The firm’s 50-day moving average price is $77.05 and its 200 day moving average price is $78.45. The stock has a market cap of $6.23 billion, a P/E ratio of 36.31 and a beta of 0.92. Macquarie Infrastructure Company has a 52-week low of $73.24 and a 52-week high of $85.45.
Macquarie Infrastructure (NYSE:MIC) last announced its earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by $0.26. Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. The firm had revenue of $438.99 million for the quarter, compared to analyst estimates of $416.50 million. Equities analysts predict that Macquarie Infrastructure Company will post $1.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 14th will be paid a dividend of $1.38 per share. This is an increase from Macquarie Infrastructure’s previous quarterly dividend of $1.32. This represents a $5.52 annualized dividend and a yield of 7.31%. The ex-dividend date of this dividend is Thursday, August 10th. Macquarie Infrastructure’s payout ratio is 244.45%.
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Several research firms have weighed in on MIC. BidaskClub raised Macquarie Infrastructure from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. Zacks Investment Research downgraded Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Finally, Barclays PLC downgraded Macquarie Infrastructure from an “overweight” rating to a “hold” rating and dropped their price target for the stock from $89.00 to $83.00 in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Macquarie Infrastructure currently has a consensus rating of “Hold” and an average price target of $88.75.
Macquarie Infrastructure Company Profile
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.
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