Geode Capital Management LLC Boosts Holdings in FTAI Infrastructure Inc. (NASDAQ:FIP)

Geode Capital Management LLC grew its position in shares of FTAI Infrastructure Inc. (NASDAQ:FIP - Free Report) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,499,861 shares of the company's stock after purchasing an additional 72,560 shares during the period. Geode Capital Management LLC owned approximately 2.20% of FTAI Infrastructure worth $18,153,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FIP. Rhumbline Advisers boosted its position in 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 buying an additional 2,141 shares during the period. Arizona State Retirement System grew its stake in FTAI Infrastructure by 10.1% during the 4th quarter. Arizona State Retirement System now owns 32,231 shares of the company's stock worth $234,000 after purchasing an additional 2,948 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in FTAI Infrastructure during the 3rd quarter worth about $34,000. Pictet Asset Management Holding SA raised its position in FTAI Infrastructure by 19.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 22,326 shares of the company's stock valued at $162,000 after purchasing an additional 3,610 shares in the last quarter. Finally, Aigen Investment Management LP boosted its stake 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 valued at $153,000 after buying an additional 4,760 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a "market outperform" rating and issued a $12.00 target price on shares of FTAI Infrastructure in a report on Tuesday.

FTAI Infrastructure Stock Performance

FIP traded up $0.25 on Thursday, reaching $4.17. The company had a trading volume of 173,204 shares, compared to its average volume of 1,346,185. 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 1 year low of $3.10 and a 1 year high of $10.46. The stock has a market capitalization of $474.57 million, a PE ratio of -2.09 and a beta of 1.69. The stock has a 50-day moving average price of $4.72 and a 200-day moving average price of $6.91.

FTAI Infrastructure Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, March 14th. FTAI Infrastructure's 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.