Cullen Frost Bankers Inc. trimmed its holdings in Macquarie Infrastructure Co. (NYSE:MIC) by 72.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 14,715 shares of the conglomerate’s stock after selling 38,893 shares during the period. Cullen Frost Bankers Inc.’s holdings in Macquarie Infrastructure were worth $553,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. FIL Ltd acquired a new stake in Macquarie Infrastructure in the 4th quarter valued at about $28,000. Tompkins Financial Corp acquired a new stake in Macquarie Infrastructure in the 4th quarter valued at about $85,000. SG Americas Securities LLC lifted its holdings in Macquarie Infrastructure by 47.2% in the 4th quarter. SG Americas Securities LLC now owns 6,487 shares of the conglomerate’s stock valued at $244,000 after acquiring an additional 2,079 shares during the last quarter. US Bancorp DE lifted its holdings in Macquarie Infrastructure by 42.9% in the 4th quarter. US Bancorp DE now owns 3,329 shares of the conglomerate’s stock valued at $125,000 after acquiring an additional 1,000 shares during the last quarter. Finally, WealthStone Inc. acquired a new stake in Macquarie Infrastructure in the 4th quarter valued at about $211,000. 63.77% of the stock is owned by institutional investors.

Shares of NYSE:MIC opened at $31.45 on Tuesday. The stock has a market capitalization of $2.75 billion, a PE ratio of -3.13 and a beta of 1.54. Macquarie Infrastructure Co. has a 1 year low of $12.50 and a 1 year high of $44.69. The firm has a fifty day moving average price of $31.20 and a 200 day moving average price of $30.16. The company has a current ratio of 1.99, a quick ratio of 1.98 and a debt-to-equity ratio of 0.92.

Macquarie Infrastructure (NYSE:MIC) last issued its quarterly earnings data on Tuesday, February 16th. The conglomerate reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.71). Macquarie Infrastructure had a positive return on equity of 10.05% and a negative net margin of 67.23%. On average, sell-side analysts forecast that Macquarie Infrastructure Co. will post 3.38 earnings per share for the current fiscal year.

Several analysts have issued reports on the stock. TD Securities downgraded shares of Macquarie Infrastructure to a “hold” rating and boosted their target price for the company from $39.00 to $43.50 in a research note on Tuesday, October 27th. Truist boosted their target price on shares of Macquarie Infrastructure from $35.00 to $50.00 in a research note on Friday, December 18th. BMO Capital Markets boosted their target price on shares of Macquarie Infrastructure from $38.00 to $43.50 and gave the company a “market perform” rating in a research note on Tuesday, October 27th. Finally, Zacks Investment Research raised shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating and set a $31.00 price target on the stock in a research note on Thursday, February 4th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $38.13.

About Macquarie Infrastructure

Macquarie Infrastructure Corporation owns and operates a portfolio of infrastructure and infrastructure-like businesses that provide services to corporations, government agencies and individual customers primarily in the United States. It operates through: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments.

Read More: How does the Beige Book influence monetary policy?

Want to see what other hedge funds are holding MIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macquarie Infrastructure Co. (NYSE:MIC).

Institutional Ownership by Quarter for Macquarie Infrastructure (NYSE:MIC)

Receive News & Ratings for Macquarie Infrastructure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macquarie Infrastructure and related companies with MarketBeat.com's FREE daily email newsletter.