Voya Investment Management LLC reduced its holdings in Macquarie Infrastructure Corp (NYSE:MIC) by 20.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,743 shares of the conglomerate’s stock after selling 4,405 shares during the quarter. Voya Investment Management LLC’s holdings in Macquarie Infrastructure were worth $707,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. NumerixS Investment Technologies Inc bought a new stake in shares of Macquarie Infrastructure in the 2nd quarter worth approximately $122,000. Sandy Spring Bank grew its position in shares of Macquarie Infrastructure by 84.4% in the 2nd quarter. Sandy Spring Bank now owns 4,360 shares of the conglomerate’s stock worth $184,000 after buying an additional 1,995 shares during the last quarter. Edgemoor Investment Advisors Inc. bought a new stake in shares of Macquarie Infrastructure in the 2nd quarter worth approximately $211,000. Villere ST Denis J & Co. LLC bought a new stake in shares of Macquarie Infrastructure in the 2nd quarter worth approximately $223,000. Finally, American Asset Management Inc. bought a new stake in shares of Macquarie Infrastructure in the 2nd quarter worth approximately $238,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

NYSE MIC opened at $42.24 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.35 and a current ratio of 2.41. Macquarie Infrastructure Corp has a twelve month low of $36.20 and a twelve month high of $73.05. The company has a market cap of $3.94 billion, a P/E ratio of 16.50 and a beta of 1.25.

Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings results on Wednesday, August 1st. The conglomerate reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Macquarie Infrastructure had a return on equity of 6.32% and a net margin of 26.49%. The company had revenue of $478.08 million for the quarter, compared to analyst estimates of $441.10 million. Research analysts predict that Macquarie Infrastructure Corp will post 2.38 EPS for the current fiscal year.

In other news, Director George W. Carmany III purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were bought at an average cost of $45.92 per share, for a total transaction of $45,920.00. Following the completion of the transaction, the director now directly owns 46,565 shares of the company’s stock, valued at approximately $2,138,264.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ouma Sananikone bought 2,000 shares of the company’s stock in a transaction on Friday, August 31st. The stock was bought at an average cost of $46.69 per share, for a total transaction of $93,380.00. Following the completion of the acquisition, the director now directly owns 17,598 shares of the company’s stock, valued at approximately $821,650.62. The disclosure for this purchase can be found here. Insiders have purchased 1,472,806 shares of company stock worth $67,890,826 over the last 90 days. 6.90% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on MIC shares. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Monday, July 30th. Barclays lifted their price target on Macquarie Infrastructure from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 11th. SunTrust Banks set a $49.00 price target on Macquarie Infrastructure and gave the company a “hold” rating in a research report on Monday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Macquarie Infrastructure from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Macquarie Infrastructure has a consensus rating of “Hold” and an average price target of $51.00.

About Macquarie Infrastructure

Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP), and MIC Hawaii. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, chemicals, renewable fuels, and vegetable and animal oils through a network of 19 marine terminals, including 17 in the United States and 2 in Canada.

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Institutional Ownership by Quarter for Macquarie Infrastructure (NYSE:MIC)

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