Macquarie Infrastructure Company (MIC) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Macquarie Infrastructure Company (NYSE:MIC) from a buy rating to a hold rating in a report issued on Saturday morning.

According to Zacks, “Macquarie owns, operate and invests in a diversified group of infrastructure businesses, which provide basic, everyday services, in the United States and other developed countries. Its initial businesses and investments consist of an airport services business (Atlantic and AvPorts), an airport parking business (PCAA and Avistar) and a district energy business (Thermal Chicago and Northwind Aladdin), a UK regulated water utility and in Macquarie Communications Infrastructure Group. “

MIC has been the topic of a number of other reports. SunTrust Banks, Inc. lowered their price target on shares of Macquarie Infrastructure to $75.00 and set a buy rating on the stock in a report on Wednesday. BidaskClub cut shares of Macquarie Infrastructure from a sell rating to a strong sell rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Macquarie Infrastructure currently has a consensus rating of Hold and a consensus price target of $83.75.

Macquarie Infrastructure (NYSE:MIC) traded up $0.11 during trading hours on Friday, hitting $64.39. 750,408 shares of the stock were exchanged, compared to its average volume of 843,580. Macquarie Infrastructure has a twelve month low of $63.08 and a twelve month high of $83.66. The company has a market cap of $5,445.08, a PE ratio of 30.23 and a beta of 0.87. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 1.11.

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The company also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were issued a $1.42 dividend. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.38. This represents a $5.68 dividend on an annualized basis and a dividend yield of 8.82%. The ex-dividend date of this dividend was Friday, November 10th. Macquarie Infrastructure’s dividend payout ratio (DPR) is currently 266.67%.

Several institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC raised its position in shares of Macquarie Infrastructure by 19.3% in the 3rd quarter. Sterling Capital Management LLC now owns 10,580 shares of the conglomerate’s stock valued at $764,000 after purchasing an additional 1,715 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Macquarie Infrastructure by 24.5% in the 3rd quarter. California Public Employees Retirement System now owns 135,212 shares of the conglomerate’s stock valued at $9,760,000 after purchasing an additional 26,612 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Macquarie Infrastructure by 176.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 32,921 shares of the conglomerate’s stock valued at $2,376,000 after purchasing an additional 21,026 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Macquarie Infrastructure by 25.8% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,682 shares of the conglomerate’s stock valued at $1,060,000 after purchasing an additional 3,014 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of Macquarie Infrastructure by 1,018.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 56,178 shares of the conglomerate’s stock valued at $4,055,000 after purchasing an additional 51,157 shares during the last quarter. 79.61% of the stock is owned by hedge funds and other institutional investors.

Macquarie Infrastructure 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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