Eventide Asset Management LLC raised its stake in shares of Macquarie Infrastructure Company (NYSE:MIC) by 0.2% during the first quarter, Holdings Channel reports. The fund owned 721,700 shares of the conglomerate’s stock after buying an additional 1,700 shares during the period. Macquarie Infrastructure Company comprises 3.9% of Eventide Asset Management LLC’s investment portfolio, making the stock its largest position. Eventide Asset Management LLC owned 0.88% of Macquarie Infrastructure Company worth $58,155,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Nicholas Co. Inc. WI raised its position in Macquarie Infrastructure Company by 25.4% in the fourth quarter. Nicholas Co. Inc. WI now owns 42,080 shares of the conglomerate’s stock valued at $3,437,000 after buying an additional 8,510 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in Macquarie Infrastructure Company by 15,172.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 47,038 shares of the conglomerate’s stock valued at $3,843,000 after buying an additional 46,730 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Macquarie Infrastructure Company by 223.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 171,999 shares of the conglomerate’s stock valued at $14,053,000 after buying an additional 118,862 shares during the last quarter. FMR LLC raised its position in Macquarie Infrastructure Company by 29.2% in the fourth quarter. FMR LLC now owns 51,667 shares of the conglomerate’s stock valued at $4,221,000 after buying an additional 11,667 shares during the last quarter. Finally, Tredje AP fonden acquired a new position in Macquarie Infrastructure Company during the fourth quarter valued at approximately $234,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.
Shares of Macquarie Infrastructure Company (MIC) traded up 0.52% during mid-day trading on Friday, reaching $77.66. 437,419 shares of the company’s stock traded hands. Macquarie Infrastructure Company has a 1-year low of $68.53 and a 1-year high of $85.45. The firm has a 50-day moving average price of $78.68 and a 200-day moving average price of $79.66. The company has a market capitalization of $6.40 billion, a P/E ratio of 38.75 and a beta of 0.90.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 15th were issued a $1.32 dividend. This is a positive change from Macquarie Infrastructure Company’s previous quarterly dividend of $1.11. This represents a $5.28 annualized dividend and a yield of 6.80%. The ex-dividend date was Thursday, May 11th. Macquarie Infrastructure Company’s payout ratio is 253.85%.
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Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Macquarie Infrastructure Company from a “sell” rating to a “hold” rating in a report on Friday, April 21st. SunTrust Banks, Inc. assumed coverage on shares of Macquarie Infrastructure Company in a report on Tuesday, March 21st. They issued a “buy” rating and a $92.00 price target on the stock. Barclays PLC raised their price target on shares of Macquarie Infrastructure Company from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, February 23rd. Finally, Royal Bank of Canada cut their price target on shares of Macquarie Infrastructure Company from $98.00 to $93.00 and set an “outperform” rating on the stock in a report on Thursday, February 23rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $91.75.
About Macquarie Infrastructure Company
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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