King Luther Capital Management Corp Sells 88,961 Shares of FTAI Infrastructure Inc. (NASDAQ:FIP)

King Luther Capital Management Corp cut its holdings in FTAI Infrastructure Inc. (NASDAQ:FIP) by 43.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,317 shares of the company’s stock after selling 88,961 shares during the quarter. King Luther Capital Management Corp’s holdings in FTAI Infrastructure were worth $1,079,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Eagle Investment Management LLC bought a new position in shares of FTAI Infrastructure during the second quarter valued at $2,766,000. Bank of New York Mellon Corp lifted its stake in FTAI Infrastructure by 8.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 794,868 shares of the company’s stock valued at $6,860,000 after acquiring an additional 65,218 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of FTAI Infrastructure by 22.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,483 shares of the company’s stock valued at $179,000 after acquiring an additional 5,244 shares during the last quarter. Doheny Asset Management CA bought a new stake in shares of FTAI Infrastructure in the second quarter worth approximately $712,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of FTAI Infrastructure by 44.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,470,225 shares of the company’s stock valued at $12,688,000 after purchasing an additional 449,481 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market outperform” rating and issued a $12.00 target price on shares of FTAI Infrastructure in a report on Monday, August 5th.

FTAI Infrastructure Stock Up 0.1 %

FIP stock opened at $8.47 on Friday. The company has a market cap of $963.46 million, a price-to-earnings ratio of -4.28 and a beta of 1.36. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.42 and a current ratio of 1.42. The business’s 50-day moving average is $8.99 and its two-hundred day moving average is $8.91. FTAI Infrastructure Inc. has a fifty-two week low of $3.42 and a fifty-two week high of $10.45.

FTAI Infrastructure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Tuesday, November 12th. FTAI Infrastructure’s dividend payout ratio (DPR) is presently -6.06%.

FTAI Infrastructure Company Profile

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.