California Public Employees Retirement System increased its position in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 24.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,212 shares of the conglomerate’s stock after acquiring an additional 26,612 shares during the period. California Public Employees Retirement System owned approximately 0.16% of Macquarie Infrastructure worth $9,760,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in MIC. Vanguard Group Inc. lifted its holdings in shares of Macquarie Infrastructure by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,527,430 shares of the conglomerate’s stock valued at $511,751,000 after buying an additional 213,571 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Macquarie Infrastructure by 4.5% during the 3rd quarter. Macquarie Group Ltd. now owns 5,336,110 shares of the conglomerate’s stock valued at $385,160,000 after buying an additional 228,693 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Macquarie Infrastructure by 0.6% in the 2nd quarter. Principal Financial Group Inc. now owns 2,468,616 shares of the conglomerate’s stock valued at $193,540,000 after acquiring an additional 14,255 shares in the last quarter. State Street Corp raised its stake in shares of Macquarie Infrastructure by 4.7% in the 2nd quarter. State Street Corp now owns 1,831,999 shares of the conglomerate’s stock valued at $143,638,000 after acquiring an additional 82,988 shares in the last quarter. Finally, Cohen & Steers Inc. raised its stake in shares of Macquarie Infrastructure by 7.1% in the 3rd quarter. Cohen & Steers Inc. now owns 991,556 shares of the conglomerate’s stock valued at $71,571,000 after acquiring an additional 65,382 shares in the last quarter. Institutional investors and hedge funds own 75.72% of the company’s stock.
MIC has been the topic of a number of recent analyst reports. Zacks Investment Research raised Macquarie Infrastructure from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective on the stock in a research note on Wednesday, October 4th. SunTrust Banks dropped their price target on Macquarie Infrastructure to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $83.75.
Shares of Macquarie Infrastructure Corp (NYSE:MIC) opened at $64.99 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.93 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $5,500.00, a P/E ratio of 31.40 and a beta of 0.87. Macquarie Infrastructure Corp has a 1 year low of $63.08 and a 1 year high of $83.48.
In other news, Director Norman H. Brown, Jr. sold 1,732 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $65.87, for a total transaction of $114,086.84. Following the completion of the sale, the director now owns 49,076 shares in the company, valued at $3,232,636.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Norman H. Brown, Jr. sold 2,151 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $66.07, for a total value of $142,116.57. Following the sale, the director now owns 46,925 shares of the company’s stock, valued at approximately $3,100,334.75. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.
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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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