Westfield Capital Management Co. LP increased its stake in Macquarie Infrastructure Company (NYSE:MIC) by 7.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 513,533 shares of the conglomerate’s stock after purchasing an additional 34,515 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.62% of Macquarie Infrastructure worth $40,261,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Ffcm LLC lifted its holdings 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 purchasing an additional 1,105 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings 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 purchasing an additional 1,650 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in Macquarie Infrastructure in the 2nd quarter worth approximately $165,000. Benjamin F. Edwards & Company Inc. lifted its holdings 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 purchasing an additional 271 shares during the last quarter. Finally, Almanack Investment Partners LLC. acquired a new stake in Macquarie Infrastructure in the 1st quarter worth approximately $198,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.
MIC has been the subject of several analyst reports. Zacks Investment Research upgraded Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Tuesday, July 18th. Barclays PLC lowered Macquarie Infrastructure from an “overweight” rating to a “hold” rating and cut their price target for the stock from $89.00 to $83.00 in a report on Tuesday, July 18th. Finally, BidaskClub upgraded Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $88.75.
Shares of Macquarie Infrastructure Company (MIC) traded up 0.64% on Friday, hitting $73.72. The stock had a trading volume of 758,653 shares. The stock’s 50-day moving average price is $73.79 and its 200 day moving average price is $77.26. The company has a market cap of $6.09 billion, a PE ratio of 35.44 and a beta of 0.87. Macquarie Infrastructure Company has a 52 week low of $71.23 and a 52 week high of $85.45.
Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings data 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 net margin of 10.12% and a return on equity of 5.71%. The business had revenue of $438.99 million during the quarter, compared to analyst estimates of $416.50 million. On average, analysts predict that Macquarie Infrastructure Company will post $1.92 EPS for the current year.
Macquarie Infrastructure 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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