Glenmede Trust Co. NA Continues to Hold Position in MasTec, Inc. (MTZ)

Glenmede Trust Co. NA continued to hold its stake in shares of MasTec, Inc. (NYSE:MTZ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 883,580 shares of the construction company’s stock at the end of the first quarter. Glenmede Trust Co. NA owned 1.09% of MasTec worth $33,795,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in MTZ. IFP Advisors Inc raised its stake in shares of MasTec by 218.6% in the first quarter. IFP Advisors Inc now owns 2,514 shares of the construction company’s stock worth $101,000 after buying an additional 1,725 shares during the period. Pacad Investment Ltd. purchased a new stake in shares of MasTec during the fourth quarter worth about $107,000. Envestnet Asset Management Inc. raised its stake in shares of MasTec by 7.9% in the first quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock worth $107,000 after buying an additional 197 shares during the period. Advisory Services Network LLC purchased a new stake in shares of MasTec during the first quarter worth about $131,000. Finally, Fortaleza Asset Management Inc. purchased a new stake in shares of MasTec during the fourth quarter worth about $142,000. Hedge funds and other institutional investors own 69.09% of the company’s stock.

Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

Shares of MasTec, Inc. (NYSE:MTZ) traded down 2.52% during trading on Tuesday, hitting $44.45. 570,357 shares of the stock were exchanged. The stock’s 50 day moving average is $43.66 and its 200-day moving average is $40.26. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 20.86 and a beta of 1.36. MasTec, Inc. has a 12-month low of $20.86 and a 12-month high of $47.90.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, May 4th. The construction company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.08. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.06 billion. MasTec had a net margin of 3.29% and a return on equity of 18.02%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 earnings per share. Equities research analysts anticipate that MasTec, Inc. will post $2.46 EPS for the current year.

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MTZ has been the topic of a number of research analyst reports. Vetr lowered shares of MasTec from a “buy” rating to a “hold” rating and set a $45.42 price target on the stock. in a report on Monday, June 5th. Deutsche Bank AG lifted their price target on shares of MasTec from $45.00 to $50.00 and gave the company a “hold” rating in a report on Monday, May 8th. DA Davidson lifted their price target on shares of MasTec from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, May 8th. Zacks Investment Research lowered shares of MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, March 21st. Finally, FBR & Co lifted their price target on shares of MasTec from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Monday, May 15th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. MasTec has an average rating of “Buy” and an average price target of $42.40.

In other news, COO Robert E. Apple sold 25,000 shares of the business’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $45.06, for a total value of $1,126,500.00. Following the completion of the sale, the chief operating officer now directly owns 227,816 shares in the company, valued at $10,265,388.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jose S. Sorzano sold 2,391 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $45.56, for a total transaction of $108,933.96. Following the completion of the sale, the director now owns 37,545 shares of the company’s stock, valued at $1,710,550.20. The disclosure for this sale can be found here. Insiders own 20.30% of the company’s stock.

MasTec Company Profile

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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