Chemical Bank maintained its stake in Macquarie Infrastructure Company (NYSE:MIC) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the conglomerate’s stock at the close of the second quarter. Chemical Bank’s holdings in Macquarie Infrastructure were worth $235,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. World Asset Management Inc grew its stake in shares of Macquarie Infrastructure by 0.3% during the second quarter. World Asset Management Inc now owns 2,736 shares of the conglomerate’s stock valued at $215,000 after buying an additional 9 shares during the last quarter. US Bancorp DE grew its stake in shares of Macquarie Infrastructure by 1.0% in the second quarter. US Bancorp DE now owns 2,693 shares of the conglomerate’s stock worth $211,000 after purchasing an additional 26 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Macquarie Infrastructure by 0.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,107 shares of the conglomerate’s stock worth $573,000 after purchasing an additional 41 shares during the last quarter. Comerica Bank grew its stake in shares of Macquarie Infrastructure by 2.0% in the second quarter. Comerica Bank now owns 3,158 shares of the conglomerate’s stock worth $240,000 after purchasing an additional 63 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of Macquarie Infrastructure by 0.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 18,124 shares of the conglomerate’s stock worth $1,421,000 after purchasing an additional 83 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.
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Several analysts recently issued reports on MIC shares. Zacks Investment Research raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. BidaskClub raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Barclays PLC cut Macquarie Infrastructure from an “overweight” rating to a “hold” rating and cut their target price for the stock from $89.00 to $83.00 in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $88.75.
Shares of Macquarie Infrastructure Company (NYSE MIC) opened at 73.72 on Friday. The company has a 50 day moving average price of $73.79 and a 200 day moving average price of $77.26. Macquarie Infrastructure Company has a 1-year low of $71.23 and a 1-year high of $85.45. The company has a market capitalization of $6.09 billion, a PE ratio of 35.44 and a beta of 0.87.
Macquarie Infrastructure (NYSE:MIC) last issued its quarterly 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). The firm had revenue of $438.99 million for the quarter, compared to the consensus estimate of $416.50 million. Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. Equities analysts predict that Macquarie Infrastructure Company will post $1.92 EPS for the current fiscal year.
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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