New Mountain Vantage Advisers L.L.C. Reduces Position in Macquarie Infrastructure Company (MIC)
New Mountain Vantage Advisers L.L.C. decreased its stake in shares of Macquarie Infrastructure Company (NYSE:MIC) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 422,567 shares of the conglomerate’s stock after selling 3,525 shares during the quarter. Macquarie Infrastructure comprises about 2.4% of New Mountain Vantage Advisers L.L.C.’s portfolio, making the stock its 20th largest holding. New Mountain Vantage Advisers L.L.C. owned approximately 0.51% of Macquarie Infrastructure worth $33,129,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Ffcm LLC boosted its position in shares of Macquarie Infrastructure by 122.1% during the second quarter. Ffcm LLC now owns 2,010 shares of the conglomerate’s stock worth $159,000 after acquiring an additional 1,105 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Macquarie Infrastructure during the second quarter worth $165,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Macquarie Infrastructure by 13.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,268 shares of the conglomerate’s stock worth $178,000 after acquiring an additional 271 shares during the last quarter. Almanack Investment Partners LLC. bought a new position in shares of Macquarie Infrastructure during the first quarter worth $198,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Macquarie Infrastructure during the second quarter worth $206,000. Hedge funds and other institutional investors own 80.53% of the company’s stock.
Shares of Macquarie Infrastructure Company (NYSE MIC) traded down 0.51% during midday trading on Friday, hitting $72.47. 258,327 shares of the stock traded hands. The company’s 50 day moving average price is $73.10 and its 200-day moving average price is $76.86. Macquarie Infrastructure Company has a 12-month low of $71.23 and a 12-month high of $85.45. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 34.84 and a beta of 0.88.
Macquarie Infrastructure (NYSE:MIC) last announced its quarterly earnings results 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 firm 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%. On average, equities research analysts expect that Macquarie Infrastructure Company will post $1.89 EPS for the current year.
A number of brokerages recently weighed in on MIC. BidaskClub lowered shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. Finally, Barclays PLC lowered shares of Macquarie Infrastructure from an “overweight” rating to a “hold” rating and dropped their target price for the stock from $89.00 to $83.00 in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $88.00.
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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