Patten & Patten Inc. TN boosted its position in shares of Macquarie Infrastructure Company (NYSE:MIC) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,269 shares of the conglomerate’s stock after buying an additional 407 shares during the period. Macquarie Infrastructure comprises 1.5% of Patten & Patten Inc. TN’s investment portfolio, making the stock its 13th largest position. Patten & Patten Inc. TN owned about 0.21% of Macquarie Infrastructure worth $13,349,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Bank of Montreal Can increased its stake in shares of Macquarie Infrastructure by 2.2% in the first quarter. Bank of Montreal Can now owns 194,928 shares of the conglomerate’s stock worth $15,707,000 after buying an additional 4,271 shares during the period. GW&K Investment Management LLC increased its stake in shares of Macquarie Infrastructure by 4.5% in the first quarter. GW&K Investment Management LLC now owns 500,986 shares of the conglomerate’s stock worth $40,369,000 after buying an additional 21,584 shares during the period. Berson & Corrado Investment Advisors LLC increased its stake in shares of Macquarie Infrastructure by 2.9% in the first quarter. Berson & Corrado Investment Advisors LLC now owns 56,270 shares of the conglomerate’s stock worth $4,534,000 after buying an additional 1,605 shares during the period. Raymond James Trust N.A. purchased a new stake in shares of Macquarie Infrastructure during the first quarter worth $218,000. Finally, Denali Advisors LLC bought a new position in Macquarie Infrastructure during the first quarter worth about $564,000. Institutional investors and hedge funds own 86.02% of the company’s stock.
Macquarie Infrastructure Company (NYSE MIC) traded up 0.07% on Friday, reaching $73.47. The company had a trading volume of 306,331 shares. Macquarie Infrastructure Company has a one year low of $73.01 and a one year high of $85.45. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 35.32 and a beta of 0.92. The company has a 50-day moving average of $76.69 and a 200 day moving average of $78.17.
Macquarie Infrastructure (NYSE:MIC) last issued its earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.26. Macquarie Infrastructure had a return on equity of 5.71% and a net margin of 10.12%. The company had revenue of $438.99 million during the quarter, compared to analyst estimates of $416.50 million. On average, equities research analysts predict that Macquarie Infrastructure Company will post $1.92 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 14th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.32. This represents a $5.52 dividend on an annualized basis and a dividend yield of 7.51%. Macquarie Infrastructure’s dividend payout ratio is presently 255.56%.
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MIC has been the subject of a number of analyst reports. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a research report on Tuesday, July 18th. BidaskClub upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Barclays PLC lowered Macquarie Infrastructure from an “overweight” rating to a “hold” rating and reduced their price objective for the company from $89.00 to $83.00 in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Macquarie Infrastructure currently has a consensus rating of “Hold” and an average target price of $88.75.
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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