Engineers Gate Manager LP acquired a new stake in MasTec, Inc. (NYSE:MTZ) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 36,786 shares of the construction company’s stock, valued at approximately $1,661,000.
Several other hedge funds have also made changes to their positions in the company. IFP Advisors Inc grew its holdings in shares of MasTec by 218.6% in the 1st quarter. IFP Advisors Inc now owns 2,514 shares of the construction company’s stock worth $101,000 after purchasing an additional 1,725 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of MasTec by 68.8% in the 1st quarter. Wells Fargo & Company MN now owns 677,636 shares of the construction company’s stock worth $27,139,000 after purchasing an additional 276,255 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of MasTec by 21.8% in the 1st quarter. First Trust Advisors LP now owns 246,443 shares of the construction company’s stock worth $9,870,000 after purchasing an additional 44,107 shares during the last quarter. US Bancorp DE grew its holdings in shares of MasTec by 0.3% in the 1st quarter. US Bancorp DE now owns 44,625 shares of the construction company’s stock worth $1,788,000 after purchasing an additional 123 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of MasTec by 135.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 42,491 shares of the construction company’s stock worth $1,702,000 after purchasing an additional 24,474 shares during the last quarter. Institutional investors own 70.62% of the company’s stock.
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Several equities research analysts have recently weighed in on MTZ shares. Vetr raised shares of MasTec from a “hold” rating to a “buy” rating and set a $45.42 target price on the stock in a report on Monday, May 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $52.00 target price on shares of MasTec in a report on Monday, May 15th. FBR & Co upped their target price on shares of MasTec from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Credit Suisse Group raised shares of MasTec from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $46.00 to $55.00 in a report on Monday, July 24th. Finally, ValuEngine raised shares of MasTec from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $52.46.
MasTec, Inc. (MTZ) opened at 40.90 on Tuesday. MasTec, Inc. has a 52 week low of $26.75 and a 52 week high of $49.50. The stock has a 50 day moving average of $42.08 and a 200 day moving average of $42.47. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 14.42 and a beta of 1.44.
MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business posted $0.36 earnings per share. The business’s quarterly revenue was up 53.4% compared to the same quarter last year. Equities research analysts predict that MasTec, Inc. will post $2.74 earnings per share for the current fiscal year.
In related news, Director C Robert Campbell sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total value of $540,000.00. Following the sale, the director now directly owns 67,082 shares in the company, valued at $3,018,690. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 20.30% of the company’s stock.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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