Macquarie Infrastructure Corp (NYSE:MIC) – Research analysts at SunTrust Banks reduced their Q3 2018 earnings per share estimates for Macquarie Infrastructure in a report issued on Thursday. SunTrust Banks analyst T. Richardson now expects that the conglomerate will earn $0.59 per share for the quarter, down from their prior forecast of $0.77. SunTrust Banks has a “Hold” rating on the stock. SunTrust Banks also issued estimates for Macquarie Infrastructure’s Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $2.13 EPS.
A number of other research firms have also weighed in on MIC. Zacks Investment Research upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Wednesday, January 17th. Wells Fargo & Co reiterated a “market perform” rating on shares of Macquarie Infrastructure in a research note on Friday, February 23rd. JPMorgan Chase & Co. lowered shares of Macquarie Infrastructure from an “overweight” rating to a “neutral” rating in a research note on Thursday, February 22nd. Royal Bank of Canada decreased their price objective on shares of Macquarie Infrastructure to $55.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Finally, Alembic Global Advisors reiterated a “sell” rating on shares of Macquarie Infrastructure in a research note on Thursday, February 22nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Macquarie Infrastructure has a consensus rating of “Hold” and a consensus price target of $74.25.
The company also recently disclosed a dividend, which will be paid on Thursday, March 8th. Shareholders of record on Monday, March 5th will be paid a $1.44 dividend. This is a positive change from Macquarie Infrastructure’s previous dividend of $1.11. The ex-dividend date is Friday, March 2nd. Macquarie Infrastructure’s dividend payout ratio (DPR) is 105.77%.
In other Macquarie Infrastructure news, Director Norman H. Brown, Jr. sold 2,151 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $66.07, for a total value of $142,116.57. Following the completion of the sale, the director now owns 46,925 shares in the company, valued at approximately $3,100,334.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.90% of the company’s stock.
A number of large investors have recently bought and sold shares of MIC. Brandywine Global Investment Management LLC purchased a new stake in Macquarie Infrastructure in the 4th quarter valued at about $78,085,000. Atlantic Trust Group LLC grew its position in shares of Macquarie Infrastructure by 7,024.8% during the 3rd quarter. Atlantic Trust Group LLC now owns 799,259 shares of the conglomerate’s stock valued at $57,689,000 after acquiring an additional 788,041 shares during the period. Ascend Capital LLC grew its position in shares of Macquarie Infrastructure by 576.6% during the 4th quarter. Ascend Capital LLC now owns 684,005 shares of the conglomerate’s stock valued at $43,912,000 after acquiring an additional 582,907 shares during the period. Virtus Fund Advisers LLC grew its position in shares of Macquarie Infrastructure by 40.5% during the 4th quarter. Virtus Fund Advisers LLC now owns 1,399,650 shares of the conglomerate’s stock valued at $89,858,000 after acquiring an additional 403,400 shares during the period. Finally, Bamco Inc. NY grew its position in shares of Macquarie Infrastructure by 104.9% during the 4th quarter. Bamco Inc. NY now owns 624,519 shares of the conglomerate’s stock valued at $40,094,000 after acquiring an additional 319,797 shares during the period. Hedge funds and other institutional investors own 77.66% of the company’s stock.
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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