Macquarie Infrastructure Company LLC
) recently offered a glimpse of its soon-to-be-released second
quarter 2013 results, when it divulged the quantum of performance
fees due to be received by its management entity. The company is
scheduled to report its quarterly results after the market closes
on Jul 31.
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Macquarie Infrastructure revealed that Macquarie Infrastructure
Management (USA) Inc., its management company, has earned a
performance fee of $24.4 for the quarter. The performance fee is
based on the Management Services Agreement between the parent
company and its management entity and is equivalent to 20% of the
total return of the stock in excess of its utility index
The management company intends to reinvest the performance fee to
buy additional shares of the parent group. The purchase price of
these shares would be based on the volume weighted average share
price over a 15-day period following the release of the financial
Macquarie Infrastructure owns and operates a diversified group of
infrastructure businesses in the U.S. These include Hawaii Gas -
a gas processing and distribution business, a controlling
interest in a District Energy business in Chicago, and a 50%
ownership interest in International-Matex Tank Terminals - a bulk
liquid storage terminal business. The company also owns and
operates Atlantic Aviation - an airport services business, and
two solar power generation facilities collectively MIC Solar.
Macquarie Infrastructure presently has a Zacks Rank #2 (Buy).
Other companies in the industry worth mentioning include
Federal Signal Corp.
Compass Diversified Holdings
Honeywell International Inc.
), each carrying a Zacks Rank #2 (Buy).