Terra Nova Asset Management Lowers stake in Macquarie Infrastructure Corp (MIC)

Macquarie Infrastructure Corp (MIC) : Terra Nova Asset Management reduced its stake in Macquarie Infrastructure Corp by 47.92% during the most recent quarter end. The investment management company now holds a total of 7,897 shares of Macquarie Infrastructure Corp which is valued at $653,477 after selling 7,267 shares in Macquarie Infrastructure Corp , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Macquarie Infrastructure Corp makes up approximately 1.45% of Terra Nova Asset Management’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in MIC in the latest quarter, The investment management firm added 6,669 additional shares and now holds a total of 16,040 shares of Macquarie Infrastructure Corp which is valued at $1,327,310.First Mercantile Trust Co reduced its stake in MIC by selling 12,974 shares or 34.33% in the most recent quarter. The Hedge Fund company now holds 24,819 shares of MIC which is valued at $2,054,020. Macquarie Infrastructure Corp makes up approx 0.28% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in MIC by selling 13,614 shares or 91.2% in the most recent quarter. The Hedge Fund company now holds 1,314 shares of MIC which is valued at $108,668. Washington Trust Bank added MIC to its portfolio by purchasing 12 company shares during the most recent quarter which is valued at $992.

Macquarie Infrastructure Corp closed down -0.95 points or -1.14% at $82.75 with 4,22,438 shares getting traded on Tuesday. Post opening the session at $83.58, the shares hit an intraday low of $82.06 and an intraday high of $83.73 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Macquarie Infrastructure Corp reported $0.13 EPS for the quarter, missing the analyst consensus estimate by $ -0.23 based on the information available during the earnings call on Nov 2, 2015. Analyst had a consensus of $0.36. The company had revenue of $415.71 million for the quarter, compared to analysts expectations of $428.12 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $13.87 EPS.

Macquarie Infrastructure Company LLC owns operates and invests in a group of infrastructure businesses that provide basic services to businesses and individuals primarily in the United States. The Company’s operational segments include International-Matex Tank Terminals (IMTT) engaged in bulk liquid terminals business which provides bulk liquid storage handling and other services at 10 marine terminals in the United States and two in Canada; Atlantic Aviation which includes a network of aviation fixed-base operations (FBOs) that provide fuel terminal aircraft hangaring and other services primarily to owners and operators of general aviation (GA) aircraft at 69 airports in the United States; Contracted Power and Energy (CP&E) which is engaged in selling energy generated by their facilities to creditworthy off-takers and Hawaii Gas a gas energy company processing and distributing gas and providing related services in Hawaii.

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