Westwood Management Corp IL continued to hold its stake in shares of Macquarie Infrastructure Company (NYSE:MIC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,300 shares of the conglomerate’s stock at the end of the second quarter. Macquarie Infrastructure accounts for 0.3% of Westwood Management Corp IL’s holdings, making the stock its 29th largest position. Westwood Management Corp IL’s holdings in Macquarie Infrastructure were worth $1,670,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Verde Servicos Internacionais S.A. acquired a new position in shares of Macquarie Infrastructure during the first quarter valued at approximately $2,240,000. Bank of Montreal Can boosted its position 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 valued at $15,707,000 after buying an additional 4,271 shares in the last quarter. GW&K Investment Management LLC boosted its position 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 valued at $40,369,000 after buying an additional 21,584 shares in the last quarter. Berson & Corrado Investment Advisors LLC boosted its position 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 valued at $4,534,000 after buying an additional 1,605 shares in the last quarter. Finally, Raymond James Trust N.A. acquired a new position in shares of Macquarie Infrastructure during the first quarter valued at approximately $218,000. Institutional investors and hedge funds own 86.15% of the company’s stock.
Shares of Macquarie Infrastructure Company (MIC) traded up 0.38% during trading on Friday, hitting $72.11. 849,260 shares of the stock were exchanged. The stock’s 50 day moving average price is $75.80 and its 200 day moving average price is $77.91. Macquarie Infrastructure Company has a 52 week low of $71.23 and a 52 week high of $85.45. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 34.67 and a beta of 0.92.
Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Wednesday, August 2nd. The conglomerate reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.26. Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. The company had revenue of $438.99 million for the quarter, compared to analyst estimates of $416.50 million. On average, equities analysts predict that Macquarie Infrastructure Company will post $1.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 7.65%. The ex-dividend date of this dividend was Thursday, August 10th. This is an increase from Macquarie Infrastructure’s previous quarterly dividend of $1.32. Macquarie Infrastructure’s dividend payout ratio is 255.56%.
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Several analysts recently issued reports on MIC shares. Zacks Investment Research upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Friday, April 21st. BidaskClub upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Barclays PLC lowered shares of Macquarie Infrastructure from an “overweight” rating to a “hold” rating and reduced their price target for the stock 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 given a hold rating and three have assigned a buy rating to the 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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