Macquarie Infrastructure Company (MIC) Position Reduced by Advisors Asset Management Inc.
Advisors Asset Management Inc. lowered its position in Macquarie Infrastructure Company (NYSE:MIC) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 363,285 shares of the conglomerate’s stock after selling 16,253 shares during the period. Advisors Asset Management Inc. owned about 0.43% of Macquarie Infrastructure worth $26,222,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in MIC. Ffcm LLC lifted its position in Macquarie Infrastructure by 122.1% in the second quarter. Ffcm LLC now owns 2,010 shares of the conglomerate’s stock valued at $159,000 after purchasing an additional 1,105 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in Macquarie Infrastructure in the second quarter valued at about $165,000. Benjamin F. Edwards & Company Inc. lifted its position in Macquarie Infrastructure by 13.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,268 shares of the conglomerate’s stock valued at $178,000 after purchasing an additional 271 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Macquarie Infrastructure in the second quarter valued at about $206,000. Finally, US Bancorp DE lifted its position in Macquarie Infrastructure by 1.0% in the second quarter. US Bancorp DE now owns 2,693 shares of the conglomerate’s stock valued at $211,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 79.61% of the company’s stock.
A number of equities research analysts recently commented on the stock. SunTrust Banks, Inc. reduced their price objective on shares of Macquarie Infrastructure to $75.00 and set a “buy” rating for the company in a research report on Wednesday. BidaskClub downgraded shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research downgraded shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $83.75.
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Shares of Macquarie Infrastructure Company (NYSE MIC) traded up $0.15 during trading on Thursday, reaching $64.55. 231,212 shares of the company’s stock were exchanged, compared to its average volume of 753,534. Macquarie Infrastructure Company has a 12 month low of $63.08 and a 12 month high of $83.65. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.93 and a current ratio of 1.07. The stock has a market capitalization of $5,460.00, a PE ratio of 30.46 and a beta of 0.87.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, November 10th. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.38. This represents a $5.68 dividend on an annualized basis and a yield of 8.80%. Macquarie Infrastructure’s dividend payout ratio (DPR) is 274.40%.
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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