Insider Selling: Macquarie Infrastructure Corp (MIC) Director Sells $142,116.57 in Stock

Macquarie Infrastructure Corp (NYSE:MIC) Director Norman H. Brown, Jr. sold 2,151 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $66.07, for a total transaction of $142,116.57. Following the transaction, the director now owns 46,925 shares in the company, valued at $3,100,334.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Macquarie Infrastructure Corp (NYSE MIC) traded down $0.60 on Friday, reaching $65.37. 771,871 shares of the company were exchanged, compared to its average volume of 733,605. The firm has a market capitalization of $5,527.95, a price-to-earnings ratio of 30.69 and a beta of 0.86. Macquarie Infrastructure Corp has a 52-week low of $63.08 and a 52-week high of $83.66. The company has a quick ratio of 0.93, a current ratio of 1.07 and a debt-to-equity ratio of 1.11.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 8.69%. This is a positive change from Macquarie Infrastructure’s previous quarterly dividend of $1.38. The ex-dividend date was Friday, November 10th. Macquarie Infrastructure’s payout ratio is presently 266.67%.

MIC has been the topic of a number of recent research reports. SunTrust Banks lowered their price target on shares of Macquarie Infrastructure to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th. Zacks Investment Research lowered shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Saturday, November 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $83.75.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Macquarie Infrastructure by 3.4% in the 2nd 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 last quarter. Macquarie Group Ltd. boosted its holdings in Macquarie Infrastructure by 4.5% in the 3rd quarter. Macquarie Group Ltd. now owns 5,336,110 shares of the conglomerate’s stock valued at $385,160,000 after purchasing an additional 228,693 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Macquarie Infrastructure by 0.6% in the 2nd 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 last quarter. State Street Corp boosted its holdings in Macquarie Infrastructure by 4.7% in the 2nd 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 last quarter. Finally, Cohen & Steers Inc. boosted its holdings in Macquarie Infrastructure by 7.1% in the 3rd quarter. Cohen & Steers Inc. now owns 991,556 shares of the conglomerate’s stock valued at $71,571,000 after purchasing an additional 65,382 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

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About Macquarie Infrastructure

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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