FTAI Infrastructure (NASDAQ:FIP) CFO Carl Russell Iv Fletcher Buys 5,000 Shares of Company Stock

FTAI Infrastructure Inc. (NASDAQ:FIP) CFO Carl Russell Iv Fletcher purchased 5,000 shares of the business’s stock in a transaction on Tuesday, November 10th. The shares were purchased at an average price of $3.79 per share, with a total value of $18,950.00. Following the completion of the purchase, the chief financial officer owned 45,000 shares in the company, valued at approximately $170,550. This trade represents a 12.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

FTAI Infrastructure Trading Up 3.5%

Shares of NASDAQ:FIP opened at $3.84 on Wednesday. The firm’s 50 day moving average price is $2.89 and its 200-day moving average price is $4.43. FTAI Infrastructure Inc. has a twelve month low of $2.23 and a twelve month high of $6.69.

FTAI Infrastructure (NASDAQ:FIP) last announced its earnings results on Thursday, November 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). The business had revenue of $218.97 million for the quarter, compared to analyst estimates of $195.03 million.

FTAI Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 23rd will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, November 23rd. FTAI Infrastructure’s dividend payout ratio (DPR) is currently -2.36%.

Analysts Set New Price Targets

FIP has been the topic of a number of recent analyst reports. Citigroup restated a “market outperform” rating on shares of FTAI Infrastructure in a research note on Tuesday, September 29th. JonesTrading reaffirmed a “buy” rating and set a $8.75 price objective on shares of FTAI Infrastructure in a report on Monday, September 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FTAI Infrastructure in a report on Wednesday, September 9th. UBS Group reissued a “buy” rating on shares of FTAI Infrastructure in a research note on Friday. Finally, Citizens Jmp began coverage on FTAI Infrastructure in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $10.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.75.

Institutional Investors Weigh In On FTAI Infrastructure

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its position in FTAI Infrastructure by 10.3% in the 2nd quarter. Wellington Management Group LLP now owns 13,490,351 shares of the company’s stock valued at $62,595,000 after acquiring an additional 1,259,468 shares during the last quarter. CenterBook Partners LP lifted its position in shares of FTAI Infrastructure by 77.6% during the third quarter. CenterBook Partners LP now owns 3,485,831 shares of the company’s stock worth $9,621,000 after purchasing an additional 1,522,854 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of FTAI Infrastructure during the second quarter valued at $8,591,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of FTAI Infrastructure by 12.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 535,996 shares of the company’s stock valued at $1,479,000 after purchasing an additional 58,979 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of FTAI Infrastructure by 38.0% in the first quarter. Lazard Asset Management LLC now owns 467,149 shares of the company’s stock worth $2,308,000 after purchasing an additional 128,598 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

FTAI Infrastructure Company Profile

FTAI Infrastructure Inc. is an infrastructure company that owns and operates critical transportation and energy assets. Its portfolio is designed to support the movement, storage and processing of essential commodities and industrial products, with a focus on long-lived infrastructure that serves industrial and logistics customers. The company’s businesses include Transtar, an industrial rail network serving manufacturing facilities, ports and other freight customers; Jefferson Terminal, a multimodal port and logistics facility on the U.S. Gulf Coast; and Long Ridge Energy Terminal, an energy infrastructure complex in Ohio that includes natural gas-fired power generation and related facilities.