Ridgewood Investments LLC Takes Position in Macquarie Infrastructure Corp (MIC)

Ridgewood Investments LLC bought a new stake in shares of Macquarie Infrastructure Corp (NYSE:MIC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,510 shares of the conglomerate’s stock, valued at approximately $392,000.

Other large investors also recently made changes to their positions in the company. Quad Cities Investment Group LLC boosted its position in Macquarie Infrastructure by 128.0% in the first quarter. Quad Cities Investment Group LLC now owns 684 shares of the conglomerate’s stock worth $28,000 after purchasing an additional 384 shares during the last quarter. Cerebellum GP LLC bought a new position in Macquarie Infrastructure in the 4th quarter worth about $27,000. Nordea Investment Management AB bought a new position in Macquarie Infrastructure in the 4th quarter worth about $28,000. Bronfman E.L. Rothschild L.P. increased its stake in Macquarie Infrastructure by 63.5% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the conglomerate’s stock worth $28,000 after acquiring an additional 299 shares during the last quarter. Finally, Sage Capital Advisors llc bought a new position in Macquarie Infrastructure in the 4th quarter worth about $31,000. 76.59% of the stock is currently owned by institutional investors.

In related news, major shareholder Group Ltd Macquarie bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average cost of $40.61 per share, for a total transaction of $40,610.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.90% of the company’s stock.

MIC stock traded down $0.11 during trading on Monday, hitting $41.77. 243,263 shares of the company traded hands, compared to its average volume of 713,232. The stock has a market capitalization of $3.62 billion, a PE ratio of 19.70 and a beta of 1.59. Macquarie Infrastructure Corp has a 1 year low of $33.71 and a 1 year high of $47.74. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.69 and a quick ratio of 1.66.

Macquarie Infrastructure (NYSE:MIC) last issued its earnings results on Wednesday, February 20th. The conglomerate reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.09). The company had revenue of $437.76 million for the quarter, compared to analysts’ expectations of $453.40 million. Macquarie Infrastructure had a net margin of 7.22% and a return on equity of 5.57%. Analysts anticipate that Macquarie Infrastructure Corp will post 2.91 EPS for the current year.

A number of equities analysts have weighed in on the company. ValuEngine upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research cut Macquarie Infrastructure from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Barclays set a $42.00 price objective on Macquarie Infrastructure and gave the stock a “hold” rating in a report on Wednesday, January 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 price objective (down from $45.00) on shares of Macquarie Infrastructure in a report on Thursday, February 21st. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $47.50.

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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: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, specialty chemicals, renewable fuels, and vegetable and tropical oils through a network of 19 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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