Alpha Windward LLC decreased its position in shares of MasTec, Inc. (NYSE:MTZ) by 14.6% during the second quarter, Holdings Channel reports. The institutional investor owned 10,860 shares of the construction company’s stock after selling 1,860 shares during the period. Alpha Windward LLC’s holdings in MasTec were worth $490,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc boosted its position 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 in the last quarter. Profit Investment Management LLC boosted its position in shares of MasTec by 32.0% in the first quarter. Profit Investment Management LLC now owns 66,666 shares of the construction company’s stock worth $2,670,000 after buying an additional 16,161 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of MasTec by 297.9% in the first quarter. Nationwide Fund Advisors now owns 478,658 shares of the construction company’s stock worth $19,170,000 after buying an additional 358,360 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of MasTec during the first quarter worth about $326,000. Finally, Navellier & Associates Inc boosted its position in shares of MasTec by 289.1% in the first quarter. Navellier & Associates Inc now owns 59,586 shares of the construction company’s stock worth $2,386,000 after buying an additional 44,274 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.
Shares of MasTec, Inc. (NYSE MTZ) traded down 0.54% on Thursday, reaching $45.90. 30,433 shares of the company traded hands. MasTec, Inc. has a one year low of $23.81 and a one year high of $47.90. The company has a market capitalization of $3.71 billion, a PE ratio of 21.54 and a beta of 1.44. The firm has a 50-day moving average price of $44.80 and a 200 day moving average price of $41.21.
MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, May 4th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. MasTec had a net margin of 3.29% and a return on equity of 18.02%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm posted $0.02 EPS. MasTec’s revenue was up 18.9% compared to the same quarter last year. Equities analysts forecast that MasTec, Inc. will post $2.46 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Alpha Windward LLC Has $490,000 Position in MasTec, Inc. (NYSE:MTZ)” was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece on another website, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be accessed at https://stocknewstimes.com/2017/07/20/alpha-windward-llc-has-490000-position-in-mastec-inc-nysemtz.html.
A number of brokerages recently issued reports on MTZ. Deutsche Bank AG boosted their price objective on shares of MasTec from $45.00 to $50.00 and gave the company a “hold” rating in a report on Monday, May 8th. Canaccord Genuity restated a “buy” rating and set a $52.00 price objective on shares of MasTec in a report on Friday, May 5th. FBR & Co reiterated an “outperform” rating and issued a $57.00 price target (up previously from $50.00) on shares of MasTec in a report on Monday, May 8th. DA Davidson upped 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. Finally, Vetr cut shares of MasTec from a “buy” rating to a “hold” rating and set a $47.14 price target for the company. in a report on Monday, June 12th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $42.40.
In other MasTec news, Director Jose S. Sorzano sold 2,391 shares of MasTec stock in a transaction on Friday, June 9th. The shares were sold at an average price of $45.56, for a total transaction of $108,933.96. Following the transaction, the director now directly owns 37,545 shares of the company’s stock, valued at approximately $1,710,550.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director C Robert Campbell sold 12,000 shares of MasTec stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total transaction of $540,000.00. Following the transaction, the director now directly owns 67,082 shares in the company, valued at $3,018,690. The disclosure for this sale can be found here. Insiders have sold a total of 39,391 shares of company stock worth $1,775,434 over the last ninety days. 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.
Want to see what other hedge funds are holding MTZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MasTec, Inc. (NYSE:MTZ).
Receive News & Ratings for MasTec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
