US Bancorp DE raised its position in MasTec, Inc. (NYSE:MTZ) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,962 shares of the construction company’s stock after buying an additional 2,337 shares during the period. US Bancorp DE owned about 0.06% of MasTec worth $2,121,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. IFP Advisors Inc raised 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. Envestnet Asset Management Inc. raised its position 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 in the last quarter. Creative Planning raised its position 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 in the last quarter. Advisory Services Network LLC purchased a new position in shares of MasTec during the first quarter worth approximately $131,000. Finally, Smith Salley & Associates purchased a new position in shares of MasTec during the first quarter worth approximately $210,000. 69.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of MasTec, Inc. (NYSE MTZ) traded down 2.05% during mid-day trading on Wednesday, hitting $45.40. The company had a trading volume of 202,871 shares. The company’s 50-day moving average is $45.39 and its 200 day moving average is $41.88. MasTec, Inc. has a one year low of $23.86 and a one year high of $47.90. The company has a market capitalization of $3.67 billion, a PE ratio of 21.30 and a beta of 1.44.
MasTec (NYSE:MTZ) last posted its earnings results on Thursday, May 4th. The construction company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.08. MasTec had a return on equity of 18.02% and a net margin of 3.29%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the business earned $0.02 earnings per share. The firm’s revenue was up 18.9% on a year-over-year basis. On average, equities research analysts forecast that MasTec, Inc. will post $2.46 EPS for the current fiscal year.
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MTZ has been the topic of a number of research reports. DA Davidson raised MasTec from a “neutral” rating to a “buy” rating and upped their price objective for the company from $44.00 to $50.00 in a report on Thursday, April 13th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $45.00 price objective (up from $40.00) on shares of MasTec in a report on Saturday, April 22nd. Zacks Investment Research lowered MasTec from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 26th. Canaccord Genuity reaffirmed a “buy” rating and issued a $52.00 price objective on shares of MasTec in a report on Friday, May 5th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $57.00 price objective (up from $50.00) on shares of MasTec in a report on Monday, May 8th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. MasTec has a consensus rating of “Buy” and a consensus price target of $43.40.
In related news, Director Jose S. Sorzano sold 2,391 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $45.56, for a total transaction of $108,933.96. Following the completion of the transaction, the director now directly owns 37,545 shares in the company, valued at $1,710,550.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director C Robert Campbell sold 12,000 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total value of $540,000.00. Following the transaction, the director now owns 67,082 shares of the company’s stock, valued at $3,018,690. The disclosure for this sale can be found here. 20.30% of the stock is owned by insiders.
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.
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