Voya Investment Management LLC Trims Holdings in FTAI Infrastructure Inc. (NASDAQ:FIP)

Voya Investment Management LLC trimmed its holdings in shares of FTAI Infrastructure Inc. (NASDAQ:FIP) by 7.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 30,677 shares of the company’s stock after selling 2,515 shares during the period. Voya Investment Management LLC’s holdings in FTAI Infrastructure were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in shares of FTAI Infrastructure by 1.4% in the 4th quarter. Rhumbline Advisers now owns 158,513 shares of the company’s stock valued at $1,151,000 after acquiring an additional 2,141 shares during the last quarter. Arizona State Retirement System raised its position in FTAI Infrastructure by 10.1% during the 4th quarter. Arizona State Retirement System now owns 32,231 shares of the company’s stock valued at $234,000 after purchasing an additional 2,948 shares during the last quarter. Invesco Ltd. raised its position in shares of FTAI Infrastructure by 1.8% in the 4th quarter. Invesco Ltd. now owns 196,041 shares of the company’s stock worth $1,423,000 after acquiring an additional 3,409 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of FTAI Infrastructure by 19.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 22,326 shares of the company’s stock worth $162,000 after acquiring an additional 3,610 shares in the last quarter. Finally, Aigen Investment Management LP raised its position in shares of FTAI Infrastructure by 29.2% in the 4th quarter. Aigen Investment Management LP now owns 21,079 shares of the company’s stock worth $153,000 after acquiring an additional 4,760 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

FTAI Infrastructure Stock Performance

Shares of FIP opened at $5.14 on Wednesday. The company has a market cap of $589.87 million, a price-to-earnings ratio of -2.60 and a beta of 1.70. FTAI Infrastructure Inc. has a 12 month low of $3.10 and a 12 month high of $10.46. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 6.07. The business’s fifty day simple moving average is $4.36 and its two-hundred day simple moving average is $6.43.

FTAI Infrastructure (NASDAQ:FIP) last released its earnings results on Thursday, May 8th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of ($0.34) by $1.23. The company had revenue of $96.16 million for the quarter, compared to the consensus estimate 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 Dividend Announcement

The firm 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 dividend of $0.03 per share. The ex-dividend date is Monday, May 19th. This represents a $0.12 dividend on an annualized basis and a yield of 2.33%. FTAI Infrastructure’s dividend payout ratio is presently -9.09%.

Analyst Ratings Changes

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

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.