FTAI Infrastructure Inc. (NASDAQ:FIP) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its holdings in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) by 18.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,642 shares of the company’s stock after selling 17,589 shares during the period. Raymond James & Associates owned approximately 0.08% of FTAI Infrastructure worth $294,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in FIP. SG Americas Securities LLC acquired a new stake in shares of FTAI Infrastructure during the third quarter valued at approximately $139,000. Bank of New York Mellon Corp raised its position in FTAI Infrastructure by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 294,067 shares of the company’s stock valued at $947,000 after buying an additional 4,939 shares during the period. Brown Advisory Inc. purchased a new stake in FTAI Infrastructure in the 3rd quarter worth about $68,000. Allspring Global Investments Holdings LLC acquired a new stake in FTAI Infrastructure during the 3rd quarter worth about $28,000. Finally, Principal Financial Group Inc. grew its stake in FTAI Infrastructure by 39.5% during the 3rd quarter. Principal Financial Group Inc. now owns 14,653 shares of the company’s stock valued at $47,000 after acquiring an additional 4,146 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, BTIG Research began coverage on shares of FTAI Infrastructure in a research report on Thursday, April 18th. They issued a “buy” rating and a $10.00 price target for the company.

FTAI Infrastructure Trading Up 1.5 %

Shares of NASDAQ:FIP opened at $7.42 on Tuesday. The firm has a fifty day moving average of $5.96 and a two-hundred day moving average of $4.55. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 3.25. FTAI Infrastructure Inc. has a 12-month low of $2.77 and a 12-month high of $7.80. The firm has a market capitalization of $754.54 million, a P/E ratio of -4.12 and a beta of 1.50.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.47) earnings per share (EPS) for the quarter. FTAI Infrastructure had a negative return on equity of 32.27% and a negative net margin of 48.71%. The firm had revenue of $81.44 million for the quarter.

FTAI Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 27th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.62%. The ex-dividend date was Tuesday, March 26th. FTAI Infrastructure’s payout ratio is -6.67%.

FTAI Infrastructure Profile

FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.