Lee Financial Co boosted its holdings in Macquarie Infrastructure Corp (NYSE:MIC) by 49.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,058 shares of the conglomerate’s stock after buying an additional 5,320 shares during the period. Lee Financial Co’s holdings in Macquarie Infrastructure were worth $662,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Macquarie Group Ltd. raised its holdings in shares of Macquarie Infrastructure by 1.4% during the 4th quarter. Macquarie Group Ltd. now owns 12,506,903 shares of the conglomerate’s stock valued at $457,252,000 after buying an additional 167,991 shares during the period. Dimensional Fund Advisors LP boosted its position in Macquarie Infrastructure by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,717,264 shares of the conglomerate’s stock worth $99,343,000 after acquiring an additional 62,823 shares during the period. CIBC Private Wealth Group LLC boosted its position in Macquarie Infrastructure by 117.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,094,168 shares of the conglomerate’s stock worth $40,004,000 after acquiring an additional 589,836 shares during the period. Millennium Management LLC boosted its position in Macquarie Infrastructure by 7.9% during the 4th quarter. Millennium Management LLC now owns 837,237 shares of the conglomerate’s stock worth $30,609,000 after acquiring an additional 61,282 shares during the period. Finally, Prudential Financial Inc. boosted its position in Macquarie Infrastructure by 1.8% during the 4th quarter. Prudential Financial Inc. now owns 807,442 shares of the conglomerate’s stock worth $29,520,000 after acquiring an additional 14,386 shares during the period. 76.46% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Group Ltd Macquarie acquired 1,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were bought at an average price of $40.61 per share, with a total value of $40,610.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 15.00% of the stock is currently owned by insiders.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Wednesday, February 20th. The conglomerate reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.09). Macquarie Infrastructure had a return on equity of 5.57% and a net margin of 7.22%. The firm had revenue of $437.76 million during the quarter, compared to the consensus estimate of $453.40 million. On average, equities research analysts forecast that Macquarie Infrastructure Corp will post 4.78 EPS for the current fiscal year.
A number of research analysts have issued reports on MIC shares. Royal Bank of Canada reiterated an “average” rating and set a $47.00 price target on shares of Macquarie Infrastructure in a research report on Tuesday, January 15th. Barclays lowered Macquarie Infrastructure from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $42.00 to $40.00 in a research report on Tuesday, April 16th. ValuEngine upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $47.17.
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Macquarie Infrastructure Profile
Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, specialty chemicals, renewable fuels, and vegetable and tropical oils through a network of 19 terminals, including 17 in the United States and 2 in Canada.
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