Miller Howard Investments Inc. NY reduced its holdings in Macquarie Infrastructure Company (NYSE:MIC) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 151,113 shares of the conglomerate’s stock after selling 1,175 shares during the period. Miller Howard Investments Inc. NY owned about 0.18% of Macquarie Infrastructure worth $10,907,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Macquarie Infrastructure by 3.4% in the second quarter. Vanguard Group Inc. now owns 6,527,430 shares of the conglomerate’s stock valued at $511,751,000 after purchasing an additional 213,571 shares during the period. Macquarie Group Ltd. grew its holdings in Macquarie Infrastructure by 4.4% in the second quarter. Macquarie Group Ltd. now owns 5,107,417 shares of the conglomerate’s stock valued at $400,421,000 after purchasing an additional 216,097 shares during the period. Principal Financial Group Inc. grew its holdings in Macquarie Infrastructure by 0.6% in the second quarter. Principal Financial Group Inc. now owns 2,468,616 shares of the conglomerate’s stock valued at $193,540,000 after purchasing an additional 14,255 shares during the period. State Street Corp grew its holdings in Macquarie Infrastructure by 4.7% in the second quarter. State Street Corp now owns 1,831,999 shares of the conglomerate’s stock valued at $143,638,000 after purchasing an additional 82,988 shares during the period. Finally, Selz Capital LLC grew its holdings in Macquarie Infrastructure by 1.7% in the second quarter. Selz Capital LLC now owns 1,041,049 shares of the conglomerate’s stock valued at $81,618,000 after purchasing an additional 17,029 shares during the period. 80.88% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on MIC. BidaskClub lowered Macquarie Infrastructure from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, Barclays PLC lowered Macquarie Infrastructure from an “overweight” rating to a “hold” rating and lowered their price target for the stock from $89.00 to $83.00 in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $88.00.
Macquarie Infrastructure (NYSE:MIC) last announced its earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.26). The company had revenue of $438.99 million for the quarter, compared to analyst estimates of $416.50 million. Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 8.49%. The ex-dividend date is Friday, November 10th. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.38. Macquarie Infrastructure’s dividend payout ratio is 255.56%.
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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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