Macquarie Infrastructure Company (MIC) Position Boosted by Alliancebernstein L.P.
Alliancebernstein L.P. boosted its holdings in shares of Macquarie Infrastructure Company (NYSE:MIC) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,915 shares of the conglomerate’s stock after acquiring an additional 1,940 shares during the quarter. Alliancebernstein L.P. owned 0.06% of Macquarie Infrastructure worth $3,913,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ffcm LLC boosted its holdings in Macquarie Infrastructure by 122.1% during the 2nd quarter. Ffcm LLC now owns 2,010 shares of the conglomerate’s stock valued at $159,000 after acquiring an additional 1,105 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in Macquarie Infrastructure during the 2nd quarter valued at $165,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Macquarie Infrastructure by 13.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,268 shares of the conglomerate’s stock valued at $178,000 after acquiring an additional 271 shares during the period. Almanack Investment Partners LLC. purchased a new position in Macquarie Infrastructure during the 1st quarter valued at $198,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Macquarie Infrastructure during the 2nd quarter valued at $206,000. Institutional investors own 80.53% of the company’s stock.
MIC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Tuesday, July 18th. BidaskClub upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Barclays PLC cut Macquarie Infrastructure from an “overweight” rating to a “hold” rating and dropped their price objective for the company from $89.00 to $83.00 in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $88.00.
Macquarie Infrastructure Company (MIC) opened at 72.84 on Friday. Macquarie Infrastructure Company has a 12-month low of $71.23 and a 12-month high of $85.45. The company’s 50-day moving average price is $73.10 and its 200-day moving average price is $76.86. The stock has a market cap of $6.02 billion, a PE ratio of 35.02 and a beta of 0.88.
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 consensus estimate of $0.58 by ($0.26). The business had revenue of $438.99 million during the quarter, compared to analysts’ expectations of $416.50 million. Macquarie Infrastructure had a return on equity of 5.71% and a net margin of 10.12%. On average, equities analysts expect that Macquarie Infrastructure Company will post $1.89 EPS for the current fiscal 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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