Macquarie Infrastructure Company (NYSE:MIC) reached a new 52-week low during trading on Wednesday . The stock traded as low as $71.83 and last traded at $71.94, with a volume of 525,075 shares trading hands. The stock had previously closed at $72.76.

MIC has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Friday, April 21st. BidaskClub upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Barclays PLC lowered shares of Macquarie Infrastructure from an “overweight” rating to a “hold” rating and decreased their price objective for the company from $89.00 to $83.00 in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $88.75.

The company has a market capitalization of $5.94 billion, a P/E ratio of 34.54 and a beta of 0.92. The stock has a 50 day moving average of $75.98 and a 200 day moving average of $77.93.

Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings data on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.26. The company had revenue of $438.99 million for the quarter, compared to the consensus estimate of $416.50 million. Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. Equities research analysts expect that Macquarie Infrastructure Company will post $1.92 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a dividend of $1.38 per share. This is an increase from Macquarie Infrastructure’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $5.52 dividend on an annualized basis and a yield of 7.68%. Macquarie Infrastructure’s dividend payout ratio is 255.56%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Shell Asset Management Co. increased its position in shares of Macquarie Infrastructure by 6.3% in the first quarter. Shell Asset Management Co. now owns 20,274 shares of the conglomerate’s stock worth $1,634,000 after buying an additional 1,205 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Macquarie Infrastructure by 11.8% in the first quarter. Janney Montgomery Scott LLC now owns 9,319 shares of the conglomerate’s stock worth $751,000 after buying an additional 985 shares during the period. Clear Harbor Asset Management LLC increased its position in shares of Macquarie Infrastructure by 9.8% in the first quarter. Clear Harbor Asset Management LLC now owns 75,217 shares of the conglomerate’s stock worth $6,061,000 after buying an additional 6,695 shares during the period. Duncker Streett & Co. Inc. increased its position in shares of Macquarie Infrastructure by 3.1% in the first quarter. Duncker Streett & Co. Inc. now owns 4,015 shares of the conglomerate’s stock worth $324,000 after buying an additional 120 shares during the period. Finally, First Mercantile Trust Co. increased its position in shares of Macquarie Infrastructure by 5.4% in the first quarter. First Mercantile Trust Co. now owns 22,294 shares of the conglomerate’s stock worth $1,796,000 after buying an additional 1,139 shares during the period. Institutional investors own 86.15% of the company’s stock.

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Macquarie Infrastructure Company Profile

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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