Macquarie Infrastructure Company (MIC) Director Sells $114,086.84 in Stock
Macquarie Infrastructure Company (NYSE:MIC) Director Norman H. Brown, Jr. sold 1,732 shares of Macquarie Infrastructure stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $65.87, for a total value of $114,086.84. Following the completion of the transaction, the director now owns 49,076 shares of the company’s stock, valued at approximately $3,232,636.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Macquarie Infrastructure Company (NYSE:MIC) traded up $0.40 during mid-day trading on Thursday, reaching $65.86. The company had a trading volume of 609,100 shares, compared to its average volume of 596,404. The stock has a market capitalization of $5,535.56, a PE ratio of 30.73 and a beta of 0.87. Macquarie Infrastructure Company has a 12-month low of $63.08 and a 12-month high of $83.66. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were paid a dividend of $1.42 per share. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.38. The ex-dividend date was Friday, November 10th. This represents a $5.68 annualized dividend and a yield of 8.62%. Macquarie Infrastructure’s payout ratio is presently 266.67%.
MIC has been the subject of several recent research reports. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective for the company in a research note on Wednesday, October 4th. SunTrust Banks decreased their price objective on Macquarie Infrastructure to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th. Finally, BidaskClub upgraded Macquarie Infrastructure from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $83.75.
A number of hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its stake in Macquarie Infrastructure by 12.1% in the first quarter. FMR LLC now owns 57,900 shares of the conglomerate’s stock valued at $4,666,000 after buying an additional 6,233 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Macquarie Infrastructure by 4.2% in the first quarter. Teachers Advisors LLC now owns 83,321 shares of the conglomerate’s stock valued at $6,714,000 after purchasing an additional 3,341 shares during the period. US Bancorp DE increased its holdings in shares of 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. Steinberg Global Asset Management increased its holdings in shares of Macquarie Infrastructure by 1.3% in the second quarter. Steinberg Global Asset Management now owns 71,630 shares of the conglomerate’s stock valued at $5,616,000 after purchasing an additional 946 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of Macquarie Infrastructure by 0.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 18,124 shares of the conglomerate’s stock valued at $1,421,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 76.30% of the company’s stock.
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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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