Analysts Set Macquarie Infrastructure Corp (MIC) PT at $83.67

Macquarie Infrastructure Corp (NYSE:MIC) has been given a consensus recommendation of “Hold” by the five analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $83.67.

Several equities analysts have recently commented on the stock. SunTrust Banks lowered their target price on shares of Macquarie Infrastructure to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 15th. Zacks Investment Research downgraded shares of Macquarie Infrastructure from a “buy” rating to a “hold” rating in a report on Saturday, November 18th.

Macquarie Infrastructure (NYSE MIC) traded up $0.47 during mid-day trading on Monday, hitting $65.67. 668,816 shares of the stock traded hands, compared to its average volume of 836,296. Macquarie Infrastructure has a 1 year low of $63.08 and a 1 year high of $83.48. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.07 and a quick ratio of 0.93. The stock has a market capitalization of $5,513.58, a P/E ratio of 30.83 and a beta of 0.87.

In other news, Director Norman H. Brown, Jr. sold 1,732 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $65.87, for a total value of $114,086.84. Following the transaction, the director now owns 49,076 shares of the company’s stock, valued at $3,232,636.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Norman H. Brown, Jr. sold 2,151 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $66.07, for a total transaction of $142,116.57. Following the completion of the transaction, the director now directly owns 46,925 shares in the company, valued at approximately $3,100,334.75. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in MIC. Vanguard Group Inc. raised its stake in Macquarie Infrastructure by 3.4% during the second 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 in the last quarter. Macquarie Group Ltd. raised its stake in Macquarie Infrastructure by 4.5% during the third 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 in the last quarter. State Street Corp raised its stake in Macquarie Infrastructure by 4.7% during the second 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 in the last quarter. Cohen & Steers Inc. raised its stake in Macquarie Infrastructure by 7.1% during the third 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Macquarie Infrastructure by 19.4% during the third quarter. Dimensional Fund Advisors LP now owns 948,812 shares of the conglomerate’s stock valued at $68,486,000 after purchasing an additional 154,158 shares in the last quarter. 75.72% of the stock is currently owned by hedge funds and other institutional investors.

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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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