Macquarie Infrastructure Company (NYSE:MIC) Stake Held by Pekin Singer Strauss Asset Management IL
Pekin Singer Strauss Asset Management IL continued to hold its position in Macquarie Infrastructure Company (NYSE:MIC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,200 shares of the conglomerate’s stock at the end of the second quarter. Pekin Singer Strauss Asset Management IL’s holdings in Macquarie Infrastructure were worth $251,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in MIC. Vanguard Group Inc. increased its position in Macquarie Infrastructure by 9.5% in the first quarter. Vanguard Group Inc. now owns 6,313,859 shares of the conglomerate’s stock worth $508,770,000 after buying an additional 545,647 shares during the period. RidgeWorth Capital Management LLC increased its position in Macquarie Infrastructure by 99.2% in the first quarter. RidgeWorth Capital Management LLC now owns 765,525 shares of the conglomerate’s stock worth $61,686,000 after buying an additional 381,175 shares during the period. Macquarie Group Ltd. increased its position in Macquarie Infrastructure by 7.9% in the first quarter. Macquarie Group Ltd. now owns 4,891,320 shares of the conglomerate’s stock worth $394,143,000 after buying an additional 356,949 shares during the period. Janus Capital Management LLC increased its position in Macquarie Infrastructure by 685.6% in the first quarter. Janus Capital Management LLC now owns 369,225 shares of the conglomerate’s stock worth $29,752,000 after buying an additional 322,225 shares during the period. Finally, State Street Corp increased its position in Macquarie Infrastructure by 18.2% in the first quarter. State Street Corp now owns 1,749,011 shares of the conglomerate’s stock worth $140,932,000 after buying an additional 269,761 shares during the period. Institutional investors and hedge funds own 86.02% of the company’s stock.
Macquarie Infrastructure Company (MIC) opened at 73.47 on Friday. The stock has a 50 day moving average price of $76.69 and a 200-day moving average price of $78.17. The stock has a market cap of $6.07 billion, a P/E ratio of 35.32 and a beta of 0.92. Macquarie Infrastructure Company has a 52 week low of $73.01 and a 52 week high of $85.45.
Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.26. The firm had revenue of $438.99 million for the quarter, compared to the consensus estimate of $416.50 million. Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. On average, equities analysts anticipate that Macquarie Infrastructure Company will post $1.92 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 14th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $5.52 annualized dividend and a dividend yield of 7.51%. This is an increase from Macquarie Infrastructure’s previous quarterly dividend of $1.32. Macquarie Infrastructure’s dividend payout ratio (DPR) is 255.56%.
A number of equities analysts have issued reports on MIC shares. Zacks Investment Research upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Friday, April 21st. BidaskClub upgraded 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 cut their price target for the company from $89.00 to $83.00 in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price 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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