Public Employees Retirement System of Ohio boosted its position in MasTec, Inc. (NYSE:MTZ) by 9.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,757 shares of the construction company’s stock after buying an additional 2,834 shares during the period. Public Employees Retirement System of Ohio’s holdings in MasTec were worth $1,312,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the company. FMR LLC purchased a new stake in shares of MasTec during the fourth quarter worth about $20,566,000. Renaissance Technologies LLC bought a new stake in shares of MasTec during the fourth quarter worth approximately $1,033,000. Guggenheim Capital LLC raised its stake in shares of MasTec by 2.9% in the fourth quarter. Guggenheim Capital LLC now owns 11,819 shares of the construction company’s stock worth $452,000 after buying an additional 330 shares in the last quarter. Norges Bank bought a new stake in shares of MasTec during the fourth quarter worth approximately $26,156,000. Finally, First National Bank of Omaha raised its stake in shares of MasTec by 1,025.4% in the first quarter. First National Bank of Omaha now owns 64,541 shares of the construction company’s stock worth $2,585,000 after buying an additional 58,806 shares in the last quarter. Institutional investors and hedge funds own 70.36% of the company’s stock.
MasTec, Inc. (MTZ) opened at 42.85 on Monday. MasTec, Inc. has a 52 week low of $25.61 and a 52 week high of $49.50. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 20.11 and a beta of 1.44. The stock has a 50 day moving average of $45.39 and a 200 day moving average of $41.88.
MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The firm’s revenue was up 53.4% compared to the same quarter last year. Equities research analysts predict that MasTec, Inc. will post $2.46 earnings per share for the current fiscal year.
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A number of equities research analysts have commented on the stock. Zacks Investment Research lowered shares of MasTec from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 11th. Vetr raised shares of MasTec from a “buy” rating to a “strong-buy” rating and set a $45.42 price objective on the stock in a report on Thursday, May 25th. FBR & Co increased their price objective on shares of MasTec from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Canaccord Genuity reissued a “buy” rating and set a $52.00 price objective on shares of MasTec in a report on Monday, May 15th. Finally, Credit Suisse Group raised 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 report on Monday, July 24th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. MasTec presently has an average rating of “Buy” and an average price target of $43.40.
In related news, Director Jose S. Sorzano sold 2,391 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $45.56, for a total value of $108,933.96. Following the sale, the director now directly owns 37,545 shares in the company, valued at $1,710,550.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C Robert Campbell sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total value of $540,000.00. Following the completion of the sale, the director now owns 67,082 shares in the company, valued at $3,018,690. The disclosure for this sale can be found here. Corporate 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.
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