Fishman Jay A Ltd. MI Reduces Stock Holdings in Macquarie Infrastructure Corp (NYSE:MIC)

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Fishman Jay A Ltd. MI cut its holdings in shares of Macquarie Infrastructure Corp (NYSE:MIC) by 14.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 248,740 shares of the conglomerate’s stock after selling 40,500 shares during the quarter. Macquarie Infrastructure makes up approximately 1.8% of Fishman Jay A Ltd. MI’s holdings, making the stock its 16th largest holding. Fishman Jay A Ltd. MI’s holdings in Macquarie Infrastructure were worth $9,818,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MIC. Manchester Capital Management LLC bought a new stake in shares of Macquarie Infrastructure in the 2nd quarter valued at approximately $28,000. AGF Investments LLC bought a new stake in shares of Macquarie Infrastructure in the 2nd quarter valued at approximately $29,000. Centersquare Investment Management LLC bought a new stake in shares of Macquarie Infrastructure in the 2nd quarter valued at approximately $31,000. Aperio Group LLC bought a new stake in shares of Macquarie Infrastructure in the 2nd quarter valued at approximately $39,000. Finally, Howe & Rusling Inc. bought a new stake in shares of Macquarie Infrastructure in the 3rd quarter valued at approximately $59,000. Institutional investors own 57.55% of the company’s stock.

MIC has been the subject of a number of research analyst reports. National Bank Financial boosted their price target on Macquarie Infrastructure from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. TD Securities lowered their price target on Macquarie Infrastructure from $57.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Barclays set a $39.00 price target on Macquarie Infrastructure and gave the company a “sell” rating in a report on Tuesday, October 15th. Finally, CIBC reiterated an “average” rating and issued a $56.00 price target on shares of Macquarie Infrastructure in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $50.33.

NYSE:MIC traded down $0.11 during midday trading on Friday, reaching $40.80. 434,758 shares of the company traded hands, compared to its average volume of 625,215. Macquarie Infrastructure Corp has a twelve month low of $33.71 and a twelve month high of $43.83. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 19.25 and a beta of 1.40. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.53 and a quick ratio of 1.56. The company has a fifty day moving average price of $39.77 and a 200 day moving average price of $40.05.

Macquarie Infrastructure (NYSE:MIC) last released its quarterly earnings data on Thursday, October 31st. The conglomerate reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.35. Macquarie Infrastructure had a return on equity of 12.64% and a net margin of 8.14%. The business had revenue of $405.00 million during the quarter, compared to analyst estimates of $417.40 million. On average, equities research analysts forecast that Macquarie Infrastructure Corp will post 4.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, November 7th. This represents a $4.00 dividend on an annualized basis and a yield of 9.80%. Macquarie Infrastructure’s dividend payout ratio is currently 188.68%.

Macquarie Infrastructure Company Profile

Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, specialty chemicals, renewable fuels, and vegetable and tropical oils through a network of 19 terminals, including 17 in the United States and 2 in Canada.

Read More: How to use beta for portfolio diversification

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Institutional Ownership by Quarter for Macquarie Infrastructure (NYSE:MIC)

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