Icon Advisers Inc. Co. Purchases New Stake in MasTec, Inc. (NYSE:MTZ)

Icon Advisers Inc. Co. purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 56,395 shares of the construction company’s stock, valued at approximately $2,906,000. Icon Advisers Inc. Co. owned 0.07% of MasTec as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of MTZ. FMR LLC grew its position in MasTec by 3,576.7% during the first quarter. FMR LLC now owns 1,999,733 shares of the construction company’s stock valued at $96,187,000 after buying an additional 1,945,344 shares during the period. Norges Bank bought a new position in MasTec during the fourth quarter valued at about $13,787,000. Penserra Capital Management LLC grew its position in MasTec by 34,943.5% during the first quarter. Penserra Capital Management LLC now owns 271,237 shares of the construction company’s stock valued at $13,738,000 after buying an additional 270,463 shares during the period. Wells Fargo & Company MN grew its position in MasTec by 13.3% during the first quarter. Wells Fargo & Company MN now owns 1,599,832 shares of the construction company’s stock valued at $76,951,000 after buying an additional 187,276 shares during the period. Finally, South Street Advisors LLC grew its position in MasTec by 186.0% during the second quarter. South Street Advisors LLC now owns 219,285 shares of the construction company’s stock valued at $11,300,000 after buying an additional 142,620 shares during the period. Institutional investors own 85.48% of the company’s stock.

In other news, COO Robert E. Apple sold 25,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $60.05, for a total value of $1,501,250.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 5,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $57.72, for a total transaction of $288,600.00. Following the completion of the sale, the director now directly owns 67,001 shares in the company, valued at $3,867,297.72. The disclosure for this sale can be found here. Corporate insiders own 22.00% of the company’s stock.

Several equities analysts recently weighed in on the stock. B. Riley increased their price target on shares of MasTec from $62.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, August 5th. KeyCorp increased their target price on shares of MasTec from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Deutsche Bank increased their target price on shares of MasTec from $60.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. DA Davidson increased their target price on shares of MasTec to $70.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Barclays reiterated a “buy” rating and set a $60.00 target price on shares of MasTec in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $65.25.

NYSE:MTZ traded up $0.86 on Friday, reaching $59.94. 3,379 shares of the company’s stock were exchanged, compared to its average volume of 1,190,379. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.53 and a quick ratio of 1.44. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 16.46 and a beta of 1.44. MasTec, Inc. has a 52 week low of $37.24 and a 52 week high of $61.64. The stock has a fifty day simple moving average of $53.68 and a 200-day simple moving average of $49.17.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 1st. The construction company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.51. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.80 billion. MasTec had a net margin of 4.29% and a return on equity of 23.43%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the business earned $1.04 earnings per share. As a group, sell-side analysts predict that MasTec, Inc. will post 4.9 EPS for the current year.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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