Advisors Asset Management Inc. decreased its stake in shares of Macquarie Infrastructure Company (NYSE:MIC) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 379,538 shares of the conglomerate’s stock after selling 7,640 shares during the period. Macquarie Infrastructure comprises about 0.5% of Advisors Asset Management Inc.’s investment portfolio, making the stock its 23rd largest position. Advisors Asset Management Inc.’s holdings in Macquarie Infrastructure were worth $29,756,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MIC. Vanguard Group Inc. increased its stake in shares of 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 last quarter. Macquarie Group Ltd. increased its stake in shares of 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 last quarter. State Street Corp increased its stake in shares of 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 last quarter. Selz Capital LLC increased its stake in shares of Macquarie Infrastructure by 1.7% in the second quarter. Selz Capital LLC now owns 1,041,049 shares of the conglomerate’s stock valued at $81,618,000 after buying an additional 17,029 shares during the last quarter. Finally, RidgeWorth Capital Management LLC increased its stake in shares of 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 last quarter. 86.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Macquarie Infrastructure Company (NYSE:MIC) opened at 73.47 on Friday. Macquarie Infrastructure Company has a 1-year low of $73.01 and a 1-year high of $85.45. The stock has a 50 day moving average price of $76.69 and a 200-day moving average price of $78.17. The company has a market cap of $6.07 billion, a P/E ratio of 35.32 and a beta of 0.92.

Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data 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 return on equity of 5.71% and a net margin of 10.12%. The firm had revenue of $438.99 million for the quarter, compared to analyst estimates of $416.50 million. Analysts predict that Macquarie Infrastructure Company will post $1.92 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 14th will be issued a dividend of $1.38 per share. This is an increase from Macquarie Infrastructure’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, August 10th. This represents a $5.52 annualized dividend and a yield of 7.51%. Macquarie Infrastructure’s dividend payout ratio is currently 255.56%.

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MIC has been the topic of several recent analyst reports. Zacks Investment Research raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. BidaskClub raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Barclays PLC downgraded Macquarie Infrastructure from an “overweight” rating to a “hold” rating and dropped their price objective for the stock from $89.00 to $83.00 in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price 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.

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Institutional Ownership by Quarter for Macquarie Infrastructure (NYSE:MIC)

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