Ameriprise Financial Inc. Purchases 216,927 Shares of FTAI Infrastructure Inc. (NASDAQ:FIP)

Ameriprise Financial Inc. boosted its position in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) by 767.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 245,192 shares of the company’s stock after acquiring an additional 216,927 shares during the period. Ameriprise Financial Inc.’s holdings in FTAI Infrastructure were worth $1,780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FIP. Hood River Capital Management LLC raised its stake in FTAI Infrastructure by 32.7% during the 4th quarter. Hood River Capital Management LLC now owns 5,891,840 shares of the company’s stock valued at $42,775,000 after purchasing an additional 1,452,567 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in FTAI Infrastructure during the 4th quarter valued at approximately $5,938,000. Capital International Investors grew its holdings in FTAI Infrastructure by 17.0% during the 4th quarter. Capital International Investors now owns 5,345,350 shares of the company’s stock valued at $38,807,000 after buying an additional 778,376 shares in the last quarter. Vanguard Group Inc. grew its holdings in FTAI Infrastructure by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,537,542 shares of the company’s stock valued at $47,463,000 after buying an additional 730,895 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of FTAI Infrastructure by 91.1% in the 4th quarter. First Eagle Investment Management LLC now owns 1,056,241 shares of the company’s stock worth $7,668,000 after purchasing an additional 503,500 shares during the period. Institutional investors own 87.43% of the company’s stock.

Analysts Set New Price Targets

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

FTAI Infrastructure Price Performance

Shares of FIP stock opened at $6.14 on Friday. 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 stock has a 50 day moving average price of $4.47 and a 200 day moving average price of $6.16. The firm has a market capitalization of $704.63 million, a P/E ratio of -3.10 and a beta of 1.70. FTAI Infrastructure Inc. has a 52-week low of $3.10 and a 52-week high of $10.46.

FTAI Infrastructure (NASDAQ:FIP) last issued 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. The business had revenue of $96.16 million during the quarter, compared to analyst estimates of $107.84 million. FTAI Infrastructure had a negative return on equity of 46.25% and a negative net margin of 44.32%.

FTAI Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Monday, May 19th. FTAI Infrastructure’s payout ratio is -9.09%.

FTAI Infrastructure 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.