Macquarie Infrastructure (MIC) Director Buys $16,089,009.28 in Stock

Macquarie Infrastructure (NYSE:MIC) Director Infrastructure Manag Macquarie purchased 430,648 shares of Macquarie Infrastructure stock in a transaction dated Monday, May 21st. The shares were purchased at an average cost of $37.36 per share, for a total transaction of $16,089,009.28. Following the transaction, the director now owns 6,690,969 shares in the company, valued at approximately $249,974,601.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Infrastructure Manag Macquarie also recently made the following trade(s):

  • On Friday, May 18th, Infrastructure Manag Macquarie purchased 128,548 shares of Macquarie Infrastructure stock. The shares were purchased at an average cost of $36.70 per share, for a total transaction of $4,717,711.60.
  • On Monday, May 14th, Infrastructure Manag Macquarie purchased 112,700 shares of Macquarie Infrastructure stock. The shares were purchased at an average cost of $38.04 per share, for a total transaction of $4,287,108.00.
  • On Wednesday, May 16th, Infrastructure Manag Macquarie purchased 415,926 shares of Macquarie Infrastructure stock. The shares were purchased at an average cost of $37.77 per share, for a total transaction of $15,709,525.02.
  • On Thursday, May 10th, Infrastructure Manag Macquarie purchased 141,204 shares of Macquarie Infrastructure stock. The shares were purchased at an average cost of $39.02 per share, for a total transaction of $5,509,780.08.

Shares of Macquarie Infrastructure traded up $0.97, reaching $37.99, during trading hours on Monday, MarketBeat reports. 1,747,728 shares of the company were exchanged, compared to its average volume of 1,795,271. Macquarie Infrastructure has a 1 year low of $36.20 and a 1 year high of $79.51. The company has a current ratio of 1.35, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $3.15 billion, a P/E ratio of 14.84 and a beta of 1.22.

Macquarie Infrastructure (NYSE:MIC) last posted its quarterly earnings data on Wednesday, February 21st. The conglomerate reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.02). Macquarie Infrastructure had a return on equity of 6.04% and a net margin of 26.38%. The company had revenue of $471.21 million for the quarter, compared to analysts’ expectations of $452.30 million. sell-side analysts predict that Macquarie Infrastructure will post 2.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 17th. Stockholders of record on Monday, May 14th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 10.53%. The ex-dividend date of this dividend was Friday, May 11th. Macquarie Infrastructure’s dividend payout ratio is currently 156.25%.

Several institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. increased its position in shares of Macquarie Infrastructure by 4.6% during the fourth quarter. Macquarie Group Ltd. now owns 5,582,618 shares of the conglomerate’s stock worth $351,674,000 after acquiring an additional 246,508 shares during the period. Principal Financial Group Inc. increased its position in shares of Macquarie Infrastructure by 5.7% during the first quarter. Principal Financial Group Inc. now owns 2,686,891 shares of the conglomerate’s stock worth $99,226,000 after acquiring an additional 145,885 shares during the period. Brookfield Asset Management Inc. purchased a new stake in shares of Macquarie Infrastructure during the first quarter worth $60,442,000. Atlantic Trust Group LLC increased its position in shares of Macquarie Infrastructure by 84.6% during the first quarter. Atlantic Trust Group LLC now owns 1,555,528 shares of the conglomerate’s stock worth $57,446,000 after acquiring an additional 713,037 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Macquarie Infrastructure by 40.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,490,024 shares of the conglomerate’s stock worth $55,027,000 after acquiring an additional 432,006 shares during the period. 73.11% of the stock is currently owned by institutional investors and hedge funds.

MIC has been the topic of a number of research analyst reports. Zacks Investment Research lowered Macquarie Infrastructure from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. SunTrust Banks lowered Macquarie Infrastructure from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. JPMorgan Chase lowered Macquarie Infrastructure from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 22nd. Alembic Global Advisors reissued a “sell” rating on shares of Macquarie Infrastructure in a research report on Thursday, February 22nd. Finally, Wells Fargo reissued a “market perform” rating on shares of Macquarie Infrastructure in a research report on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Macquarie Infrastructure presently has an average rating of “Hold” and a consensus price target of $57.00.

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 four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP), and MIC Hawaii. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, chemicals, renewable fuels, and vegetable and animal oils through a network of 19 marine terminals, including 17 in the United States and 2 in Canada.

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