Vanguard Group Inc. Has $511.75 Million Holdings in Macquarie Infrastructure Company (MIC)
Vanguard Group Inc. raised its holdings in shares of Macquarie Infrastructure Company (NYSE:MIC) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,527,430 shares of the conglomerate’s stock after buying an additional 213,571 shares during the period. Vanguard Group Inc. owned about 7.90% of Macquarie Infrastructure worth $511,751,000 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. World Asset Management Inc lifted its position in shares of Macquarie Infrastructure by 3.2% in the 1st quarter. World Asset Management Inc now owns 2,727 shares of the conglomerate’s stock worth $220,000 after purchasing an additional 84 shares during the period. UBS Asset Management Americas Inc. raised its stake in Macquarie Infrastructure by 24.3% in the first quarter. UBS Asset Management Americas Inc. now owns 173,715 shares of the conglomerate’s stock worth $13,998,000 after buying an additional 34,008 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Macquarie Infrastructure by 0.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,107 shares of the conglomerate’s stock worth $573,000 after buying an additional 41 shares in the last quarter. AXA bought a new position in Macquarie Infrastructure in the first quarter worth about $306,000. Finally, Van ECK Associates Corp bought a new position in Macquarie Infrastructure in the first quarter worth about $290,000. Institutional investors and hedge funds own 80.53% of the company’s stock.
A number of research analysts have recently commented on the company. BidaskClub upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Tuesday, July 18th. Finally, Barclays PLC downgraded shares of Macquarie Infrastructure from an “overweight” rating to a “hold” rating and reduced their target price for the stock from $89.00 to $83.00 in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $88.00.
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Shares of Macquarie Infrastructure Company (NYSE:MIC) opened at 72.61 on Wednesday. Macquarie Infrastructure Company has a 52-week low of $71.23 and a 52-week high of $85.45. The firm has a 50-day moving average of $73.08 and a 200-day moving average of $76.92. The company has a market cap of $6.00 billion, a P/E ratio of 34.91 and a beta of 0.88.
Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share (EPS) 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 analyst estimates of $416.50 million. Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. Equities research analysts forecast that Macquarie Infrastructure Company will post $1.89 earnings per share for the current year.
About Macquarie Infrastructure
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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