Nordea Investment Management AB continued to hold its stake in Macquarie Infrastructure Company (NYSE:MIC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,340 shares of the conglomerate’s stock at the end of the 2nd quarter. Nordea Investment Management AB’s holdings in Macquarie Infrastructure were worth $183,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MIC. Ffcm LLC raised its position in Macquarie Infrastructure by 122.1% in the second quarter. Ffcm LLC now owns 2,010 shares of the conglomerate’s stock valued at $159,000 after purchasing an additional 1,105 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in Macquarie Infrastructure in the second quarter valued at approximately $165,000. Benjamin F. Edwards & Company Inc. raised its position in Macquarie Infrastructure by 13.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,268 shares of the conglomerate’s stock valued at $178,000 after purchasing an additional 271 shares during the period. Almanack Investment Partners LLC. purchased a new stake in Macquarie Infrastructure in the first quarter valued at approximately $198,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Macquarie Infrastructure in the second quarter valued at approximately $206,000. 80.53% of the stock is currently owned by institutional investors.
Shares of Macquarie Infrastructure Company (NYSE:MIC) opened at 72.38 on Friday. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 34.80 and a beta of 0.88. The stock’s 50 day moving average price is $73.11 and its 200-day moving average price is $76.61. Macquarie Infrastructure Company has a 52-week low of $71.23 and a 52-week high of $85.45.
Macquarie Infrastructure (NYSE:MIC) last issued its earnings results on Wednesday, August 2nd. The conglomerate reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.26). Macquarie Infrastructure had a net margin of 10.12% and a return on equity of 5.71%. The business had revenue of $438.99 million during the quarter, compared to analysts’ expectations of $416.50 million. On average, analysts predict that Macquarie Infrastructure Company will post $1.89 earnings per share for the current fiscal year.
MIC has been the topic of a number of research analyst reports. BidaskClub raised Macquarie Infrastructure from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised Macquarie Infrastructure from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Tuesday, July 18th. Finally, Barclays PLC lowered Macquarie Infrastructure from an “overweight” rating to a “hold” rating and cut their price objective for the stock from $89.00 to $83.00 in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Macquarie Infrastructure presently has a consensus rating of “Buy” and an average price target of $88.00.
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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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