Ladenburg Thalmann Financial Services Inc. Increases Holdings in Macquarie Infrastructure Corp (MIC)
Ladenburg Thalmann Financial Services Inc. raised its position in Macquarie Infrastructure Corp (NYSE:MIC) by 25.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 14,682 shares of the conglomerate’s stock after acquiring an additional 3,014 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Macquarie Infrastructure were worth $1,060,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. US Bancorp DE increased its position in Macquarie Infrastructure by 1.0% in the second quarter. US Bancorp DE now owns 2,693 shares of the conglomerate’s stock worth $211,000 after buying an additional 26 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Macquarie Infrastructure by 10.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 287,446 shares of the conglomerate’s stock valued at $22,536,000 after purchasing an additional 28,029 shares in the last quarter. First Trust Advisors LP grew its position in shares of Macquarie Infrastructure by 726.0% in the second quarter. First Trust Advisors LP now owns 81,685 shares of the conglomerate’s stock valued at $6,404,000 after purchasing an additional 71,796 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Macquarie Infrastructure by 68.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,802 shares of the conglomerate’s stock valued at $1,866,000 after purchasing an additional 9,698 shares in the last quarter. Finally, Dupont Capital Management Corp purchased a new position in shares of Macquarie Infrastructure in the second quarter valued at $1,074,000. 75.73% of the stock is owned by hedge funds and other institutional investors.
In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 1,732 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $65.87, for a total transaction of $114,086.84. Following the transaction, the director now owns 49,076 shares in the company, valued at approximately $3,232,636.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Norman H. Brown, Jr. sold 2,151 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $66.07, for a total value of $142,116.57. Following the transaction, the director now owns 46,925 shares in the company, valued at approximately $3,100,334.75. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.
MIC has been the subject of several recent research reports. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “strong-buy” rating and set a $84.00 price target for the company in a research report on Wednesday, October 4th. SunTrust Banks dropped their price target on Macquarie Infrastructure to $75.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $83.75.
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Macquarie Infrastructure 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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