BlackRock Inc. cut its position in shares of MasTec, Inc. (NYSE:MTZ) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,973,810 shares of the construction company’s stock after selling 218,528 shares during the quarter. BlackRock Inc. owned about 6.01% of MasTec worth $224,568,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of MTZ. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MasTec by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after buying an additional 229 shares during the period. SG Americas Securities LLC acquired a new stake in shares of MasTec during the second quarter worth $102,000. Envestnet Asset Management Inc. increased its position in shares of MasTec by 7.9% during 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. Global X Management Co. LLC increased its position in shares of MasTec by 220.7% during the second quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock worth $118,000 after buying an additional 1,799 shares during the period. Finally, Creative Planning increased its position in shares of MasTec by 16.4% during the second quarter. Creative Planning now owns 2,685 shares of the construction company’s stock worth $121,000 after buying an additional 379 shares during the period. Institutional investors own 70.62% of the company’s stock.
MasTec, Inc. (NYSE MTZ) opened at 45.95 on Friday. The stock has a market cap of $3.72 billion, a P/E ratio of 16.20 and a beta of 1.45. The stock has a 50 day moving average of $43.05 and a 200 day moving average of $43.20. MasTec, Inc. has a 1-year low of $27.10 and a 1-year high of $49.50.
MasTec (NYSE:MTZ) last issued its quarterly earnings data 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 net margin of 3.89% and a return on equity of 21.80%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the business earned $0.36 EPS. The business’s quarterly revenue was up 53.4% on a year-over-year basis. Equities analysts anticipate that MasTec, Inc. will post $2.74 EPS for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. Vetr cut shares of MasTec from a “buy” rating to a “hold” rating and set a $47.14 price objective for the company. in a research report on Monday, June 12th. Credit Suisse Group upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $46.00 to $55.00 in a research report on Monday, July 24th. Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, August 8th. KeyCorp restated a “buy” rating and issued a $51.00 price target on shares of MasTec in a report on Tuesday, September 19th. Finally, FBR & Co raised their price target on shares of MasTec from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. MasTec currently has a consensus rating of “Buy” and a consensus target price of $53.36.
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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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