Raymond James Financial Inc. Invests $347,000 in FTAI Infrastructure Inc. (NASDAQ:FIP)

Raymond James Financial Inc. purchased a new stake in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 47,762 shares of the company’s stock, valued at approximately $347,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in FTAI Infrastructure by 113.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 518,294 shares of the company’s stock valued at $4,851,000 after buying an additional 275,903 shares in the last quarter. Barclays PLC increased its position in shares of FTAI Infrastructure by 283.8% during the third quarter. Barclays PLC now owns 159,387 shares of the company’s stock worth $1,492,000 after acquiring an additional 117,863 shares during the period. Swiss National Bank raised its stake in shares of FTAI Infrastructure by 9.3% during the fourth quarter. Swiss National Bank now owns 218,700 shares of the company’s stock valued at $1,588,000 after acquiring an additional 18,600 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of FTAI Infrastructure by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,386 shares of the company’s stock valued at $6,646,000 after purchasing an additional 67,023 shares during the period. Finally, AlphaQuest LLC bought a new position in FTAI Infrastructure in the fourth quarter worth approximately $527,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

FTAI Infrastructure Stock Down 1.3 %

Shares of FTAI Infrastructure stock opened at $4.60 on Friday. FTAI Infrastructure Inc. has a 52-week low of $3.10 and a 52-week high of $10.46. The firm’s 50 day moving average price is $4.37 and its 200-day moving average price is $6.49. 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 company has a market cap of $527.90 million, a P/E ratio of -2.32 and a beta of 1.70.

FTAI Infrastructure (NASDAQ:FIP) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $96.16 million during the quarter, compared to analysts’ expectations of $107.84 million.

FTAI Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.61%. FTAI Infrastructure’s dividend payout ratio is currently -4.36%.

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.