Chicago Partners Investment Group LLC Buys 89,824 Shares of Macquarie Infrastructure Corp (MIC)
Chicago Partners Investment Group LLC raised its stake in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 121.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 163,545 shares of the conglomerate’s stock after buying an additional 89,824 shares during the period. Macquarie Infrastructure comprises about 2.0% of Chicago Partners Investment Group LLC’s portfolio, making the stock its 13th largest holding. Chicago Partners Investment Group LLC owned 0.19% of Macquarie Infrastructure worth $11,805,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MIC. Ffcm LLC raised its stake in shares of Macquarie Infrastructure by 122.1% during the 2nd quarter. Ffcm LLC now owns 2,010 shares of the conglomerate’s stock valued at $159,000 after buying an additional 1,105 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Macquarie Infrastructure during the 2nd quarter valued at about $206,000. US Bancorp DE raised its stake in shares of Macquarie Infrastructure by 1.0% during the 2nd quarter. US Bancorp DE now owns 2,693 shares of the conglomerate’s stock valued at $211,000 after buying an additional 26 shares during the last quarter. World Asset Management Inc increased its stake in shares of Macquarie Infrastructure by 0.3% in the 2nd quarter. World Asset Management Inc now owns 2,736 shares of the conglomerate’s stock valued at $215,000 after purchasing an additional 9 shares in the last quarter. Finally, FNY Partners Fund LP increased its stake in shares of Macquarie Infrastructure by 200.0% in the 3rd quarter. FNY Partners Fund LP now owns 3,000 shares of the conglomerate’s stock valued at $216,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.
In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 2,151 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $66.07, for a total transaction of $142,116.57. Following the completion of the sale, the director now directly owns 46,925 shares in the company, valued at approximately $3,100,334.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Norman H. Brown, Jr. sold 1,732 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $65.87, for a total value of $114,086.84. Following the sale, the director now owns 49,076 shares of the company’s stock, valued at $3,232,636.12. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.
Shares of Macquarie Infrastructure Corp (MIC) traded down $0.26 during trading on Friday, hitting $64.58. The company had a trading volume of 856,600 shares, compared to its average volume of 604,558. The company has a current ratio of 1.07, a quick ratio of 0.93 and a debt-to-equity ratio of 1.11. Macquarie Infrastructure Corp has a 1 year low of $63.08 and a 1 year high of $83.48. The stock has a market cap of $5,483.13, a price-to-earnings ratio of 30.44 and a beta of 0.86.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 8.80%. The ex-dividend date was Friday, November 10th. This is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.38. Macquarie Infrastructure’s payout ratio is currently 266.67%.
MIC has been the subject of several recent analyst reports. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “strong-buy” rating and set a $84.00 price target for the company in a research note on Wednesday, October 4th. SunTrust Banks cut their price target on Macquarie Infrastructure to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $83.75.
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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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