Stephens Inc. AR Raises Holdings in Macquarie Infrastructure Corp (NYSE:MIC)

Stephens Inc. AR boosted its stake in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 55.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,821 shares of the conglomerate’s stock after purchasing an additional 80,821 shares during the quarter. Stephens Inc. AR owned approximately 0.26% of Macquarie Infrastructure worth $9,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Budros Ruhlin & Roe Inc. increased its holdings in Macquarie Infrastructure by 2.5% during the 1st quarter. Budros Ruhlin & Roe Inc. now owns 10,858 shares of the conglomerate’s stock worth $448,000 after purchasing an additional 268 shares during the period. Patten Group Inc. boosted its position in shares of Macquarie Infrastructure by 1.6% during the 1st quarter. Patten Group Inc. now owns 20,419 shares of the conglomerate’s stock worth $842,000 after acquiring an additional 325 shares in the last quarter. Ridgewood Investments LLC boosted its position in shares of Macquarie Infrastructure by 3.5% during the 2nd quarter. Ridgewood Investments LLC now owns 9,843 shares of the conglomerate’s stock worth $399,000 after acquiring an additional 333 shares in the last quarter. Boston Family Office LLC boosted its position in shares of Macquarie Infrastructure by 3.1% during the 2nd quarter. Boston Family Office LLC now owns 11,520 shares of the conglomerate’s stock worth $467,000 after acquiring an additional 344 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Macquarie Infrastructure by 0.3% during the 1st quarter. California State Teachers Retirement System now owns 128,766 shares of the conglomerate’s stock worth $5,308,000 after acquiring an additional 359 shares in the last quarter. Institutional investors own 73.04% of the company’s stock.

Several research analysts have recently issued reports on MIC shares. ValuEngine cut Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research cut Macquarie Infrastructure from a “buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a research report on Wednesday, May 29th. Finally, Royal Bank of Canada raised Macquarie Infrastructure from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $48.00 to $51.00 in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $48.25.

Shares of NYSE:MIC traded down $0.29 on Thursday, hitting $37.12. 15,931 shares of the company’s stock were exchanged, compared to its average volume of 579,199. The stock’s 50-day moving average is $40.53. The stock has a market capitalization of $3.23 billion, a P/E ratio of 17.50 and a beta of 1.40. Macquarie Infrastructure Corp has a 1-year low of $33.71 and a 1-year high of $47.74. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.60 and a quick ratio of 1.56.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 12th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, August 9th. This represents a $4.00 annualized dividend and a dividend yield of 10.78%. Macquarie Infrastructure’s dividend payout ratio is currently 188.68%.

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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Institutional Ownership by Quarter for Macquarie Infrastructure (NYSE:MIC)

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