Tower Research Capital LLC TRC increased its position in shares of MasTec Inc. (NYSE:MTZ) by 279.1% during the second quarter, Holdings Channel reports. The institutional investor owned 6,237 shares of the company’s stock after buying an additional 4,592 shares during the period. Tower Research Capital LLC TRC’s holdings in MasTec were worth $139,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in shares of MasTec by 10.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,727,940 shares of the company’s stock worth $127,846,000 after buying an additional 542,990 shares in the last quarter. Peconic Partners LLC raised its stake in shares of MasTec by 5.4% in the first quarter. Peconic Partners LLC now owns 4,878,991 shares of the company’s stock worth $98,751,000 after buying an additional 250,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of MasTec by 7.0% in the second quarter. Vanguard Group Inc. now owns 4,710,676 shares of the company’s stock worth $105,143,000 after buying an additional 307,387 shares in the last quarter. Daruma Capital Management LLC raised its stake in shares of MasTec by 9.8% in the first quarter. Daruma Capital Management LLC now owns 2,872,171 shares of the company’s stock worth $58,133,000 after buying an additional 257,060 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of MasTec by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,611,808 shares of the company’s stock worth $32,623,000 after buying an additional 24,673 shares in the last quarter. 72.39% of the stock is owned by institutional investors and hedge funds.
Shares of MasTec Inc. (NYSE:MTZ) opened at 29.55 on Monday. The company’s market capitalization is $2.38 billion. The company has a 50-day moving average of $29.19 and a 200 day moving average of $24.74. MasTec Inc. has a 52-week low of $12.44 and a 52-week high of $31.15.
MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.14. The business earned $1.23 billion during the quarter, compared to analysts’ expectations of $1.16 billion. MasTec had a negative net margin of 1.10% and a positive return on equity of 6.18%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. Analysts predict that MasTec Inc. will post $1.58 earnings per share for the current year.
A number of analysts recently weighed in on MTZ shares. Canaccord Genuity set a $33.00 price target on shares of MasTec and gave the company a “buy” rating in a report on Thursday, September 22nd. Citigroup Inc. raised their price objective on shares of MasTec from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Maxim Group raised their price objective on shares of MasTec from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. FBR & Co raised their price objective on shares of MasTec from $25.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, August 8th. Finally, Zacks Investment Research raised shares of MasTec from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of C$27.55.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline or fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure.
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