BNP Paribas Arbitrage SA Increases Stake in Macquarie Infrastructure Company (MIC)
BNP Paribas Arbitrage SA lifted its position in Macquarie Infrastructure Company (NYSE:MIC) by 196.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 297,128 shares of the conglomerate’s stock after acquiring an additional 196,955 shares during the period. BNP Paribas Arbitrage SA owned 0.35% of Macquarie Infrastructure worth $21,447,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Verition Fund Management LLC bought a new position in shares of Macquarie Infrastructure in the 2nd quarter worth approximately $404,000. Principal Financial Group Inc. raised its position in shares of Macquarie Infrastructure by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 2,468,616 shares of the conglomerate’s stock worth $193,540,000 after acquiring an additional 14,255 shares in the last quarter. Swiss National Bank raised its position in shares of Macquarie Infrastructure by 3.2% in the 2nd quarter. Swiss National Bank now owns 284,300 shares of the conglomerate’s stock worth $22,289,000 after acquiring an additional 8,800 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Macquarie Infrastructure by 25.3% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 26,446 shares of the conglomerate’s stock worth $2,073,000 after acquiring an additional 5,332 shares in the last quarter. Finally, Overbrook Management Corp raised its position in shares of Macquarie Infrastructure by 3.6% in the 2nd quarter. Overbrook Management Corp now owns 598,148 shares of the conglomerate’s stock worth $46,895,000 after acquiring an additional 20,688 shares in the last quarter. 81.29% of the stock is owned by hedge funds and other institutional investors.
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Macquarie Infrastructure Company (NYSE:MIC) traded down $2.59 during trading on Friday, hitting $66.18. The company had a trading volume of 760,700 shares, compared to its average volume of 771,033. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 0.93. The stock has a market cap of $5,596.45, a P/E ratio of 31.07 and a beta of 0.87. Macquarie Infrastructure Company has a 52 week low of $65.57 and a 52 week high of $83.66.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, November 13th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $5.68 annualized dividend and a dividend yield of 8.58%. This is an increase from Macquarie Infrastructure’s previous quarterly dividend of $1.38. Macquarie Infrastructure’s dividend payout ratio is presently 259.15%.
Several research analysts have recently issued reports on the company. Barclays PLC lowered Macquarie Infrastructure from an “overweight” rating to a “hold” rating and decreased their target price for the stock from $89.00 to $83.00 in a research report on Tuesday, July 18th. BidaskClub lowered Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research lowered Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $88.00.
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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