Cypress Capital Management LLC WY Boosts Position in MasTec, Inc. (MTZ)

Cypress Capital Management LLC WY raised its stake in MasTec, Inc. (NYSE:MTZ) by 57.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,470 shares of the construction company’s stock after buying an additional 4,890 shares during the period. Cypress Capital Management LLC WY’s holdings in MasTec were worth $608,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. IFP Advisors Inc increased its stake in 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. Envestnet Asset Management Inc. increased 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. Creative Planning increased its stake in shares of MasTec by 16.4% in 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. Advisory Services Network LLC bought a new stake in shares of MasTec during the first quarter worth approximately $131,000. Finally, Smith Salley & Associates bought a new stake in shares of MasTec during the first quarter worth approximately $210,000. Institutional investors and hedge funds own 69.57% of the company’s stock.

Shares of MasTec, Inc. (NYSE:MTZ) traded down 0.035% during trading on Monday, reaching $46.134. 264,073 shares of the company’s stock were exchanged. MasTec, Inc. has a 52-week low of $23.86 and a 52-week high of $47.90. The stock’s 50 day moving average price is $45.33 and its 200-day moving average price is $41.64. The stock has a market cap of $3.73 billion, a PE ratio of 21.649 and a beta of 1.44.

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

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Several brokerages have issued reports on MTZ. Credit Suisse Group raised shares of MasTec from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $46.00 to $55.00 in a research note on Monday, July 24th. Vetr downgraded shares of MasTec from a “buy” rating to a “hold” rating and set a $47.14 target price on the stock. in a research note on Monday, June 12th. FBR & Co upped their price target on shares of MasTec from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $52.00 price target on shares of MasTec in a research note on Monday, May 15th. Finally, Zacks Investment Research cut shares of MasTec from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 11th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $43.40.

In other MasTec news, Director Jose S. Sorzano sold 2,391 shares of the company’s stock in a transaction dated 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 owns 37,545 shares in the company, valued at approximately $1,710,550.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director C Robert Campbell sold 12,000 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total transaction of $540,000.00. Following the transaction, the director now owns 67,082 shares in the company, valued at approximately $3,018,690. The disclosure for this sale can be found here. Insiders own 20.30% of the company’s stock.

About MasTec

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.