Andra AP fonden increased its position in Macquarie Infrastructure Company (NYSE:MIC) by 22.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,400 shares of the conglomerate’s stock after acquiring an additional 3,000 shares during the quarter. Andra AP fonden’s holdings in Macquarie Infrastructure were worth $1,184,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. World Asset Management Inc increased its holdings in Macquarie Infrastructure by 0.3% in the 2nd quarter. World Asset Management Inc now owns 2,736 shares of the conglomerate’s stock worth $215,000 after acquiring an additional 9 shares during the last quarter. US Bancorp DE increased its holdings in Macquarie Infrastructure by 1.0% in the 2nd quarter. US Bancorp DE now owns 2,693 shares of the conglomerate’s stock worth $211,000 after acquiring an additional 26 shares during the last quarter. Comerica Bank increased its holdings in Macquarie Infrastructure by 2.0% in the 2nd quarter. Comerica Bank now owns 3,158 shares of the conglomerate’s stock worth $240,000 after acquiring an additional 63 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Macquarie Infrastructure by 0.5% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 18,124 shares of the conglomerate’s stock worth $1,421,000 after acquiring an additional 83 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in Macquarie Infrastructure by 3.6% in the 2nd quarter. Toronto Dominion Bank now owns 3,056 shares of the conglomerate’s stock worth $240,000 after acquiring an additional 107 shares during the last quarter. 79.61% of the stock is owned by institutional investors.
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Several equities research analysts recently weighed in on MIC shares. Zacks Investment Research raised Macquarie Infrastructure from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective for the company in a report on Wednesday, October 4th. Barclays PLC lowered Macquarie Infrastructure from an “overweight” rating to a “hold” rating and reduced their target price for the company from $89.00 to $83.00 in a report on Tuesday, July 18th. Finally, BidaskClub lowered Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $88.00.
Macquarie Infrastructure Company (NYSE:MIC) opened at $65.59 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.93 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $5,596.45, a PE ratio of 31.07 and a beta of 0.87. Macquarie Infrastructure Company has a twelve month low of $65.57 and a twelve month high of $83.66.
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 dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 8.66%. The ex-dividend date of this dividend is Friday, November 10th. This is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.38. Macquarie Infrastructure’s payout ratio is presently 266.67%.
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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