Sciencast Management LP Makes New $502,000 Investment in Macquarie Infrastructure Corp (NYSE:MIC)

Sciencast Management LP purchased a new stake in shares of Macquarie Infrastructure Corp (NYSE:MIC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 16,477 shares of the conglomerate’s stock, valued at approximately $502,000.

Other hedge funds also recently made changes to their positions in the company. Eminence Capital LP bought a new position in Macquarie Infrastructure in the 1st quarter worth $67,147,000. Gabelli Funds LLC increased its position in Macquarie Infrastructure by 15.2% in the first quarter. Gabelli Funds LLC now owns 1,407,302 shares of the conglomerate’s stock worth $35,534,000 after buying an additional 185,200 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Macquarie Infrastructure by 4.0% in the first quarter. Nuveen Asset Management LLC now owns 1,370,792 shares of the conglomerate’s stock worth $34,613,000 after buying an additional 53,343 shares during the period. Cohen & Steers Inc. lifted its position in shares of Macquarie Infrastructure by 14.6% during the 1st quarter. Cohen & Steers Inc. now owns 971,684 shares of the conglomerate’s stock valued at $24,535,000 after buying an additional 123,887 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Macquarie Infrastructure by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 894,380 shares of the conglomerate’s stock valued at $38,315,000 after buying an additional 24,991 shares in the last quarter. Hedge funds and other institutional investors own 75.11% of the company’s stock.

A number of equities research analysts have commented on the stock. SunTrust Banks upgraded shares of Macquarie Infrastructure from a “hold” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a research note on Wednesday, June 10th. Wells Fargo & Co cut shares of Macquarie Infrastructure from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research note on Friday, June 5th. Finally, ValuEngine upgraded shares of Macquarie Infrastructure from a “strong sell” rating to a “sell” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Macquarie Infrastructure has an average rating of “Hold” and a consensus target price of $45.29.

Shares of MIC opened at $29.96 on Friday. The firm has a market cap of $2.60 billion, a P/E ratio of 26.51 and a beta of 1.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.79 and a quick ratio of 2.74. Macquarie Infrastructure Corp has a 1 year low of $12.50 and a 1 year high of $45.93. The company has a 50 day simple moving average of $30.72 and a two-hundred day simple moving average of $32.26.

Macquarie Infrastructure (NYSE:MIC) last issued its earnings results on Tuesday, May 5th. The conglomerate reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.18). The company had revenue of $416.00 million for the quarter, compared to the consensus estimate of $457.60 million. Macquarie Infrastructure had a return on equity of 12.51% and a net margin of 5.84%. On average, sell-side analysts anticipate that Macquarie Infrastructure Corp will post 3.12 earnings per share for the current year.

About Macquarie Infrastructure

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.

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

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