Macquarie Infrastructure Co. (NYSE:MIC) Director Infrastructure Manag Macquarie sold 2,870,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $81.48, for a total value of $233,847,600.00. Following the transaction, the director now owns 4,356,936 shares of the company’s stock, valued at $355,003,145.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Macquarie Infrastructure Co. (NYSE:MIC) opened at 78.37 on Tuesday. Macquarie Infrastructure Co. has a 1-year low of $51.83 and a 1-year high of $85.45. The firm has a 50-day moving average price of $82.18 and a 200 day moving average price of $77.37. The company has a market capitalization of $6.41 billion, a P/E ratio of 54.27 and a beta of 0.94.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Thursday, November 10th will be paid a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 6.58%. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, November 8th. Macquarie Infrastructure’s dividend payout ratio (DPR) is presently 351.02%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in shares of Macquarie Infrastructure by 17.0% in the first quarter. State Street Corp now owns 914,576 shares of the company’s stock valued at $61,676,000 after buying an additional 133,201 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Macquarie Infrastructure by 5.1% in the first quarter. Geode Capital Management LLC now owns 434,087 shares of the company’s stock valued at $29,274,000 after buying an additional 20,898 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Macquarie Infrastructure by 3.8% in the first quarter. Wellington Management Group LLP now owns 261,874 shares of the company’s stock valued at $17,661,000 after buying an additional 9,482 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Macquarie Infrastructure during the first quarter valued at about $15,565,000. Finally, Springbok Capital Management LLC boosted its position in shares of Macquarie Infrastructure by 1.5% in the first quarter. Springbok Capital Management LLC now owns 11,317 shares of the company’s stock valued at $763,000 after buying an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 83.37% of the company’s stock.

MIC has been the subject of a number of recent research reports. Zacks Investment Research upgraded Macquarie Infrastructure from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 14th. Royal Bank Of Canada boosted their price objective on Macquarie Infrastructure from $91.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, November 2nd. RBC Capital Markets boosted their price objective on Macquarie Infrastructure from $91.00 to $98.00 and gave the company an “outperform” rating in a research note on Wednesday, November 2nd. Finally, TheStreet upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating in a research note on Tuesday, August 2nd. Seven analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $94.75.

About Macquarie Infrastructure

Macquarie Infrastructure Corporation owns, operates and invests in a diversified group of infrastructure businesses providing basic services to customers in the United States. Its businesses consist of a bulk liquid terminals business, International-Matex Tank Terminals, an airport services business, Atlantic Aviation, a gas processing and distribution business, Hawaii Gas, and entities comprising a Contracted Power and Energy segment.

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