Other equities analysts have also issued reports about the company. Barclays increased their price objective on Macquarie Infrastructure from $41.00 to $43.00 and gave the company an equal weight rating in a research report on Wednesday, July 11th. SunTrust Banks set a $49.00 price objective on Macquarie Infrastructure and gave the company a hold rating in a research report on Monday, July 23rd. JPMorgan Chase & Co. increased their price objective on Macquarie Infrastructure from $47.00 to $48.00 and gave the company a neutral rating in a research report on Friday, July 27th. Finally, Zacks Investment Research upgraded Macquarie Infrastructure from a hold rating to a buy rating and set a $51.00 price objective on the stock in a research report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Macquarie Infrastructure presently has an average rating of Hold and a consensus target price of $51.00.
Shares of Macquarie Infrastructure stock traded down $0.70 during trading on Thursday, hitting $38.78. 916,698 shares of the stock traded hands, compared to its average volume of 1,048,386. The company has a current ratio of 1.42, a quick ratio of 2.35 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $3.32 billion, a PE ratio of 17.55 and a beta of 1.43. Macquarie Infrastructure has a 52 week low of $36.20 and a 52 week high of $69.08.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, November 12th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $4.00 annualized dividend and a dividend yield of 10.31%. Macquarie Infrastructure’s dividend payout ratio (DPR) is presently 156.25%.
In related news, CEO Christopher Frost bought 17,380 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was bought at an average cost of $45.84 per share, for a total transaction of $796,699.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Group Ltd Macquarie bought 126,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were bought at an average price of $45.95 per share, with a total value of $5,789,700.00. The disclosure for this purchase can be found here. Insiders have bought a total of 1,143,903 shares of company stock worth $53,065,139 over the last quarter. Corporate insiders own 6.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Sei Investments Co. boosted its holdings in Macquarie Infrastructure by 35.7% during the 2nd quarter. Sei Investments Co. now owns 33,029 shares of the conglomerate’s stock valued at $1,393,000 after acquiring an additional 8,694 shares during the period. Macquarie Group Ltd. boosted its holdings in Macquarie Infrastructure by 68.2% during the 2nd quarter. Macquarie Group Ltd. now owns 9,587,543 shares of the conglomerate’s stock valued at $404,595,000 after acquiring an additional 3,887,510 shares during the period. Zacks Investment Management purchased a new stake in Macquarie Infrastructure during the 2nd quarter valued at about $2,640,000. American Assets Investment Management LLC boosted its holdings in Macquarie Infrastructure by 33.3% during the 3rd quarter. American Assets Investment Management LLC now owns 40,000 shares of the conglomerate’s stock valued at $1,827,000 after acquiring an additional 10,000 shares during the period. Finally, Cove Street Capital LLC boosted its holdings in Macquarie Infrastructure by 15.0% during the 2nd quarter. Cove Street Capital LLC now owns 468,680 shares of the conglomerate’s stock valued at $19,779,000 after acquiring an additional 61,180 shares during the period. Institutional investors own 70.58% of the company’s stock.
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 four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP), and MIC Hawaii. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, chemicals, renewable fuels, and vegetable and animal oils through a network of 19 marine terminals, including 17 in the United States and 2 in Canada.
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