Eos Focused Equity Management L.P. Sells 50,260 Shares of Macquarie Infrastructure Corp (MIC)
Eos Focused Equity Management L.P. lowered its holdings in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 37.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,756 shares of the conglomerate’s stock after selling 50,260 shares during the quarter. Macquarie Infrastructure comprises about 4.4% of Eos Focused Equity Management L.P.’s investment portfolio, making the stock its 7th biggest position. Eos Focused Equity Management L.P.’s holdings in Macquarie Infrastructure were worth $3,411,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in Macquarie Infrastructure in the third quarter worth approximately $4,004,000. Man Group plc bought a new position in shares of Macquarie Infrastructure during the 3rd quarter valued at $806,000. Cerebellum GP LLC bought a new position in shares of Macquarie Infrastructure during the 4th quarter valued at $27,000. Joel Isaacson & Co. LLC bought a new position in shares of Macquarie Infrastructure during the 4th quarter valued at $325,000. Finally, Villere ST Denis J & Co. LLC raised its holdings in shares of Macquarie Infrastructure by 196.2% during the 4th quarter. Villere ST Denis J & Co. LLC now owns 15,700 shares of the conglomerate’s stock valued at $573,000 after purchasing an additional 10,400 shares in the last quarter. Institutional investors and hedge funds own 75.80% of the company’s stock.
A number of research analysts have recently weighed in on MIC shares. Zacks Investment Research upgraded shares of Macquarie Infrastructure from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. ValuEngine downgraded shares of Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a report on Monday, February 4th. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 price target (down previously from $45.00) on shares of Macquarie Infrastructure in a report on Thursday, February 21st. Finally, Barclays downgraded shares of Macquarie Infrastructure from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $42.00 to $40.00 in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $47.17.
Shares of MIC opened at $42.01 on Thursday. The firm has a market capitalization of $3.60 billion, a P/E ratio of 19.82 and a beta of 1.56. Macquarie Infrastructure Corp has a one year low of $33.71 and a one year high of $47.74. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.95.
Macquarie Infrastructure (NYSE:MIC) last announced its earnings results on Wednesday, February 20th. The conglomerate reported $0.45 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.09). The firm had revenue of $437.76 million during the quarter, compared to the consensus estimate of $453.40 million. Macquarie Infrastructure had a return on equity of 8.18% and a net margin of 6.93%. On average, research analysts expect that Macquarie Infrastructure Corp will post 4.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 13th will be issued a $1.00 dividend. The ex-dividend date is Friday, May 10th. This represents a $4.00 annualized dividend and a yield of 9.52%. Macquarie Infrastructure’s dividend payout ratio (DPR) is presently 188.68%.
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Macquarie Infrastructure Profile
Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, specialty chemicals, renewable fuels, and vegetable and tropical oils through a network of 19 terminals, including 17 in the United States and 2 in Canada.
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