State Board of Administration of Florida Retirement System raised its holdings in MasTec, Inc. (NYSE:MTZ) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,067 shares of the construction company’s stock after buying an additional 139 shares during the period. State Board of Administration of Florida Retirement System owned 0.06% of MasTec worth $2,396,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of MTZ. IFP Advisors Inc grew its position 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 valued at $101,000 after acquiring an additional 1,725 shares during the period. Wells Fargo & Company MN grew its position 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 valued at $27,139,000 after acquiring an additional 276,255 shares during the period. First Trust Advisors LP grew its position 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 valued at $9,870,000 after acquiring an additional 44,107 shares during the period. US Bancorp DE grew its position 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 valued at $1,788,000 after acquiring an additional 123 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position 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 valued at $1,702,000 after acquiring an additional 24,474 shares during the period. Hedge funds and other institutional investors own 70.62% of the company’s stock.
MTZ has been the subject of a number of analyst reports. Credit Suisse Group raised shares of MasTec from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $46.00 to $55.00 in a report on Monday, July 24th. Vetr upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $45.42 price objective for the company in a research note on Monday, May 15th. Canaccord Genuity reiterated a “buy” rating and issued a $52.00 price objective on shares of MasTec in a research note on Monday, May 15th. ValuEngine cut shares of MasTec from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Citigroup Inc. upgraded shares of MasTec from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Friday, August 18th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $52.46.
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In other news, Director C Robert Campbell sold 12,000 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total transaction of $540,000.00. Following the sale, the director now owns 67,082 shares in the company, valued at approximately $3,018,690. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 20.30% of the company’s stock.
Shares of MasTec, Inc. (NYSE:MTZ) opened at 40.15 on Monday. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 14.16 and a beta of 1.44. MasTec, Inc. has a 12-month low of $26.75 and a 12-month high of $49.50. The firm’s 50-day moving average is $42.17 and its 200-day moving average is $42.37.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.65 by $0.34. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 53.4% on a year-over-year basis. On average, equities analysts predict that MasTec, Inc. will post $2.74 EPS for the current year.
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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