Northern Trust Corp Boosts Position in FTAI Infrastructure Inc. (NASDAQ:FIP)

Northern Trust Corp raised its holdings in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) by 7.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 913,981 shares of the company’s stock after buying an additional 59,674 shares during the period. Northern Trust Corp owned about 0.80% of FTAI Infrastructure worth $6,636,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Rhumbline Advisers lifted its holdings in FTAI Infrastructure by 1.4% during the 4th quarter. Rhumbline Advisers now owns 158,513 shares of the company’s stock worth $1,151,000 after buying an additional 2,141 shares during the last quarter. Arizona State Retirement System raised its position in shares of FTAI Infrastructure by 10.1% during the 4th quarter. Arizona State Retirement System now owns 32,231 shares of the company’s stock valued at $234,000 after acquiring an additional 2,948 shares in the last quarter. Invesco Ltd. lifted its stake in FTAI Infrastructure by 1.8% during the fourth quarter. Invesco Ltd. now owns 196,041 shares of the company’s stock worth $1,423,000 after purchasing an additional 3,409 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in FTAI Infrastructure by 19.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 22,326 shares of the company’s stock worth $162,000 after purchasing an additional 3,610 shares during the period. Finally, Aigen Investment Management LP boosted its holdings in FTAI Infrastructure by 29.2% in the fourth quarter. Aigen Investment Management LP now owns 21,079 shares of the company’s stock worth $153,000 after purchasing an additional 4,760 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a “market outperform” rating and set a $12.00 target price on shares of FTAI Infrastructure in a report on Tuesday, April 22nd.

FTAI Infrastructure Stock Performance

Shares of FTAI Infrastructure stock opened at $5.01 on Tuesday. FTAI Infrastructure Inc. has a 12 month low of $3.10 and a 12 month high of $10.46. The stock has a market cap of $574.95 million, a PE ratio of -2.53 and a beta of 1.70. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 6.07. The business has a fifty day simple moving average of $4.38 and a 200-day simple moving average of $6.32.

FTAI Infrastructure (NASDAQ:FIP) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $1.23. FTAI Infrastructure had a negative return on equity of 46.25% and a negative net margin of 44.32%. The business had revenue of $96.16 million during the quarter, compared to analyst estimates of $107.84 million.

FTAI Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Monday, May 19th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Monday, May 19th. FTAI Infrastructure’s dividend payout ratio (DPR) is currently -9.09%.

About FTAI Infrastructure

FTAI Infrastructure Inc focuses on acquiring, developing, and operating assets and businesses that represent infrastructure for customers in the transportation, energy, and industrial products industries in North America. The company operates through five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.