Steinberg Global Asset Management raised its holdings in Macquarie Infrastructure Corp (NYSE:MIC) by 19.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 14,714 shares of the conglomerate’s stock after acquiring an additional 2,395 shares during the quarter. Steinberg Global Asset Management’s holdings in Macquarie Infrastructure were worth $543,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of MIC. CIBC Private Wealth Group LLC lifted its stake in Macquarie Infrastructure by 117.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,094,168 shares of the conglomerate’s stock valued at $40,004,000 after buying an additional 589,836 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new position in shares of Macquarie Infrastructure during the fourth quarter worth approximately $9,041,000. Norges Bank acquired a new position in shares of Macquarie Infrastructure during the fourth quarter worth approximately $6,273,000. Macquarie Group Ltd. raised its position in shares of Macquarie Infrastructure by 1.4% during the fourth quarter. Macquarie Group Ltd. now owns 12,506,903 shares of the conglomerate’s stock worth $457,252,000 after purchasing an additional 167,991 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Macquarie Infrastructure by 89.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 231,255 shares of the conglomerate’s stock worth $8,455,000 after purchasing an additional 109,366 shares during the period. 76.47% of the stock is currently owned by hedge funds and other institutional investors.
MIC has been the topic of a number of research reports. Royal Bank of Canada reaffirmed an “average” rating and set a $47.00 target price on shares of Macquarie Infrastructure in a research report on Tuesday, January 15th. ValuEngine raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Barclays set a $42.00 target price on Macquarie Infrastructure and gave the stock a “hold” rating in a research report on Wednesday, January 16th. Finally, Zacks Investment Research raised Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.17.
Shares of NYSE:MIC opened at $40.53 on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 0.85. Macquarie Infrastructure Corp has a twelve month low of $33.71 and a twelve month high of $47.74. The company has a market cap of $3.48 billion, a PE ratio of 19.12 and a beta of 1.59.
Macquarie Infrastructure (NYSE:MIC) last issued its earnings results on Wednesday, February 20th. The conglomerate reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $453.40 million. Equities analysts predict that Macquarie Infrastructure Corp will post 4.78 EPS for the current fiscal year.
About Macquarie Infrastructure
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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