Monarch Partners Asset Management LLC purchased a new stake in MasTec, Inc. (NYSE:MTZ) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 143,850 shares of the construction company’s stock, valued at approximately $6,495,000. Monarch Partners Asset Management LLC owned approximately 0.17% of MasTec at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MTZ. IFP Advisors Inc boosted its position in MasTec by 218.6% in the first quarter. IFP Advisors Inc now owns 2,514 shares of the construction company’s stock valued at $101,000 after buying an additional 1,725 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in MasTec by 7.9% in the first quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock valued at $107,000 after buying an additional 197 shares in the last quarter. Global X Management Co. LLC boosted its position in MasTec by 220.7% in the second quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock valued at $118,000 after buying an additional 1,799 shares in the last quarter. Creative Planning boosted its position in MasTec by 16.4% in the second quarter. Creative Planning now owns 2,685 shares of the construction company’s stock valued at $121,000 after buying an additional 379 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in MasTec during the first quarter valued at about $131,000. 70.36% of the stock is owned by hedge funds and other institutional investors.
Shares of MasTec, Inc. (MTZ) opened at 40.25 on Friday. MasTec, Inc. has a 52-week low of $26.75 and a 52-week high of $49.50. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 14.19 and a beta of 1.44. The stock has a 50 day moving average of $45.09 and a 200 day moving average of $42.16.
MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.34. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.50 billion. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The business’s revenue was up 53.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. On average, analysts predict that MasTec, Inc. will post $2.74 EPS for the current fiscal year.
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Several research firms recently issued reports on MTZ. Vetr cut shares of MasTec from a “buy” rating to a “hold” rating and set a $45.42 price target for the company. in a report on Monday, June 5th. ValuEngine raised shares of MasTec from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Credit Suisse Group raised shares of MasTec from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $46.00 to $55.00 in a report on Monday, July 24th. Deutsche Bank AG increased their price target on shares of MasTec from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, May 8th. Finally, DA Davidson increased their price target on shares of MasTec from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, May 8th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.47.
In other news, Director Jose S. Sorzano sold 2,391 shares of MasTec stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $45.56, for a total value of $108,933.96. Following the transaction, the director now owns 37,545 shares of the company’s stock, valued at approximately $1,710,550.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Robert Campbell sold 12,000 shares of MasTec stock in a transaction that occurred 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 completion of the transaction, the director now directly 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.
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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