Westwood Management Corp IL cut its stake in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 5.8% during the first quarter, Holdings Channel reports. The fund owned 21,300 shares of the conglomerate’s stock after selling 1,300 shares during the period. Macquarie Infrastructure Corp accounts for approximately 0.3% of Westwood Management Corp IL’s holdings, making the stock its 27th largest position. Westwood Management Corp IL’s holdings in Macquarie Infrastructure Corp were worth $1,716,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Commonwealth Financial Services LLC bought a new stake in shares of Macquarie Infrastructure Corp during the first quarter valued at about $119,000. Seven Eight Capital LP bought a new stake in shares of Macquarie Infrastructure Corp during the fourth quarter valued at about $123,000. Crow Point Partners LLC bought a new stake in shares of Macquarie Infrastructure Corp during the third quarter valued at about $124,000. National Planning Corp bought a new stake in shares of Macquarie Infrastructure Corp during the fourth quarter valued at about $204,000. Finally, First Allied Advisory Services Inc. bought a new stake in shares of Macquarie Infrastructure Corp during the fourth quarter valued at about $217,000. Institutional investors own 83.01% of the company’s stock.
Shares of Macquarie Infrastructure Corp (NYSE:MIC) traded down 0.11% during mid-day trading on Friday, reaching $80.11. The company’s stock had a trading volume of 320,625 shares. The company’s 50-day moving average is $78.96 and its 200 day moving average is $80.50. The firm has a market capitalization of $6.58 billion, a P/E ratio of 43.37 and a beta of 0.94. Macquarie Infrastructure Corp has a 1-year low of $67.32 and a 1-year high of $85.45.
Macquarie Infrastructure Corp (NYSE:MIC) last issued its quarterly earnings data on Tuesday, February 21st. The conglomerate reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.30. The company had revenue of $437.24 million for the quarter, compared to analysts’ expectations of $244.46 million. Macquarie Infrastructure Corp had a return on equity of 3.71% and a net margin of 7.21%. On average, analysts expect that Macquarie Infrastructure Corp will post $2.23 earnings per share for the current year.
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Several brokerages have issued reports on MIC. Zacks Investment Research cut Macquarie Infrastructure Corp from a “hold” rating to a “sell” rating in a report on Saturday, April 15th. SunTrust Banks, Inc. began coverage on Macquarie Infrastructure Corp in a report on Tuesday, March 21st. They issued a “buy” rating and a $92.00 target price for the company. Royal Bank of Canada dropped their target price on Macquarie Infrastructure Corp from $98.00 to $93.00 and set an “outperform” rating for the company in a report on Thursday, February 23rd. Finally, Barclays PLC upped their target price on Macquarie Infrastructure Corp from $81.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, February 23rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $91.75.
In related news, Director Martin Stanley acquired 4,000 shares of Macquarie Infrastructure Corp stock in a transaction on Friday, February 3rd. The shares were bought at an average price of $74.15 per share, for a total transaction of $296,600.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at approximately $593,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Hooke acquired 15,000 shares of Macquarie Infrastructure Corp stock in a transaction on Friday, February 3rd. The shares were bought at an average price of $74.15 per share, for a total transaction of $1,112,250.00. Following the purchase, the chief executive officer now owns 56,576 shares of the company’s stock, valued at $4,195,110.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 22,500 shares of company stock worth $1,668,375. 7.50% of the stock is currently owned by insiders.
Macquarie Infrastructure Corp 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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