Tredje AP fonden raised its holdings in shares of Macquarie Infrastructure Company (NYSE:MIC) by 191.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,707 shares of the conglomerate’s stock after purchasing an additional 22,148 shares during the quarter. Tredje AP fonden’s holdings in Macquarie Infrastructure were worth $2,643,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Macquarie Infrastructure in the 1st quarter worth about $121,000. Ffcm LLC increased its stake in Macquarie Infrastructure by 122.1% in the 2nd quarter. Ffcm LLC now owns 2,010 shares of the conglomerate’s stock worth $159,000 after buying an additional 1,105 shares during the period. Daiwa Securities Group Inc. increased its stake in Macquarie Infrastructure by 412.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 2,050 shares of the conglomerate’s stock worth $165,000 after buying an additional 1,650 shares during the period. Shine Investment Advisory Services Inc. purchased a new position in Macquarie Infrastructure in the 2nd quarter worth about $165,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Macquarie Infrastructure by 13.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,268 shares of the conglomerate’s stock worth $178,000 after buying an additional 271 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.
A number of research analysts have commented on the stock. BidaskClub downgraded shares of Macquarie Infrastructure from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Barclays PLC downgraded shares of Macquarie Infrastructure from an “overweight” rating to a “hold” rating and cut their target price for the company from $89.00 to $83.00 in a research report on Tuesday, July 18th. Finally, Zacks Investment Research downgraded shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $88.75.
Macquarie Infrastructure Company (NYSE:MIC) opened at 73.72 on Friday. Macquarie Infrastructure Company has a 12-month low of $71.23 and a 12-month high of $85.45. The stock’s 50 day moving average is $73.79 and its 200 day moving average is $77.26. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 35.44 and a beta of 0.87.
Macquarie Infrastructure (NYSE:MIC) last announced its earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 EPS for the quarter, missing the 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 analysts’ expectations of $416.50 million. Equities research analysts forecast that Macquarie Infrastructure Company will post $1.92 EPS for the current fiscal year.
About Macquarie Infrastructure
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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