M&T Bank Corp trimmed its holdings in Macquarie Infrastructure (NYSE:MIC) by 31.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 75,789 shares of the conglomerate’s stock after selling 35,019 shares during the period. M&T Bank Corp owned approximately 0.09% of Macquarie Infrastructure worth $2,799,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of MIC. Brandywine Global Investment Management LLC purchased a new position in Macquarie Infrastructure in the fourth quarter worth approximately $78,085,000. Ascend Capital LLC grew its position in Macquarie Infrastructure by 576.6% in the fourth quarter. Ascend Capital LLC now owns 684,005 shares of the conglomerate’s stock worth $43,912,000 after acquiring an additional 582,907 shares during the period. Virtus Fund Advisers LLC grew its position in Macquarie Infrastructure by 40.5% in the fourth quarter. Virtus Fund Advisers LLC now owns 1,399,650 shares of the conglomerate’s stock worth $89,858,000 after acquiring an additional 403,400 shares during the period. Bamco Inc. NY grew its position in Macquarie Infrastructure by 104.9% in the fourth quarter. Bamco Inc. NY now owns 624,519 shares of the conglomerate’s stock worth $40,094,000 after acquiring an additional 319,797 shares during the period. Finally, Archer Capital Management L.P. purchased a new position in Macquarie Infrastructure in the fourth quarter worth approximately $19,950,000. Institutional investors own 76.69% of the company’s stock.
MIC has been the subject of several analyst reports. Zacks Investment Research lowered Macquarie Infrastructure from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. JPMorgan Chase lowered Macquarie Infrastructure from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 22nd. SunTrust Banks lowered Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Alembic Global Advisors reiterated a “sell” rating on shares of Macquarie Infrastructure in a research report on Thursday, February 22nd. Finally, Wells Fargo reiterated a “market perform” rating on shares of Macquarie Infrastructure in a research report on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $57.00.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings results on Wednesday, February 21st. The conglomerate reported $0.59 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.02). Macquarie Infrastructure had a return on equity of 6.04% and a net margin of 26.38%. The firm had revenue of $471.21 million for the quarter, compared to analysts’ expectations of $452.30 million. equities research analysts predict that Macquarie Infrastructure will post 2.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 17th. Stockholders of record on Monday, May 14th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, May 11th. This represents a $4.00 annualized dividend and a dividend yield of 10.61%. Macquarie Infrastructure’s dividend payout ratio is currently 156.25%.
In other news, Director Infrastructure Manag Macquarie purchased 141,204 shares of the stock in a transaction dated Thursday, May 10th. The stock was acquired at an average cost of $39.02 per share, for a total transaction of $5,509,780.08. Following the completion of the transaction, the director now directly owns 5,925,043 shares in the company, valued at approximately $231,195,177.86. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 6.90% of the company’s stock.
Macquarie Infrastructure Profile
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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