Bank of America Corp DE Grows Stock Holdings in FTAI Infrastructure Inc. (NASDAQ:FIP)

Bank of America Corp DE raised its position in FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) by 25.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 676,954 shares of the company's stock after acquiring an additional 137,405 shares during the quarter. Bank of America Corp DE owned approximately 0.60% of FTAI Infrastructure worth $4,915,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FIP. SG Americas Securities LLC increased its position in shares of FTAI Infrastructure by 80.1% in the fourth quarter. SG Americas Securities LLC now owns 53,420 shares of the company's stock valued at $388,000 after acquiring an additional 23,766 shares during the period. Castellan Group bought a new stake in shares of FTAI Infrastructure during the 4th quarter valued at about $96,000. Rhumbline Advisers boosted its stake in shares of FTAI Infrastructure by 1.4% during the 4th quarter. Rhumbline Advisers now owns 158,513 shares of the company's stock valued at $1,151,000 after purchasing an additional 2,141 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of FTAI Infrastructure during the 4th quarter valued at about $97,000. Finally, Versor Investments LP bought a new stake in shares of FTAI Infrastructure during the 4th quarter valued at about $115,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

FTAI Infrastructure Trading Down 4.4%

Shares of FIP traded down $0.27 during trading hours on Monday, reaching $5.84. 880,471 shares of the company traded hands, compared to its average volume of 1,342,006. The company's fifty day moving average price is $4.49 and its two-hundred day moving average price is $6.10. The company has a market capitalization of $670.20 million, a price-to-earnings ratio of -2.95 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. FTAI Infrastructure Inc. has a 12 month low of $3.10 and a 12 month high of $10.46.

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

FTAI Infrastructure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Monday, May 19th. FTAI Infrastructure's payout ratio is currently -9.09%.

Analyst Ratings Changes

Separately, JMP Securities reaffirmed a "market outperform" rating and set a $12.00 target price on shares of FTAI Infrastructure in a research note on Tuesday, April 22nd.

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.