HighTower Advisors LLC bought a new position in shares of MasTec, Inc. (NYSE:MTZ) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,238 shares of the construction company’s stock, valued at approximately $507,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in MasTec by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after acquiring an additional 229 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of MasTec in the 2nd quarter valued at approximately $102,000. Envestnet Asset Management Inc. boosted its holdings in shares of MasTec by 7.9% in the 1st 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 during the last quarter. Global X Management Co. LLC boosted its holdings in shares of MasTec by 220.7% in the 2nd 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 during the last quarter. Finally, Creative Planning boosted its holdings in shares of MasTec by 16.4% in the 2nd quarter. Creative Planning now owns 2,685 shares of the construction company’s stock valued at $121,000 after buying an additional 379 shares during the last quarter. 71.56% of the stock is owned by institutional investors and hedge funds.
Shares of MasTec, Inc. (MTZ) opened at 44.05 on Friday. The company has a market capitalization of $3.56 billion, a P/E ratio of 15.53 and a beta of 1.45. MasTec, Inc. has a one year low of $27.10 and a one year high of $49.50. The firm has a 50-day moving average price of $44.10 and a 200-day moving average price of $43.64.
MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the business earned $0.36 earnings per share. MasTec’s quarterly revenue was up 53.4% on a year-over-year basis. Equities analysts forecast that MasTec, Inc. will post $2.74 earnings per share for the current year.
Several equities research analysts have issued reports on MTZ shares. Zacks Investment Research downgraded MasTec from a “strong-buy” rating to a “hold” rating in a report on Monday, October 9th. Deutsche Bank AG upgraded MasTec from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, September 12th. BidaskClub cut MasTec from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Stifel Nicolaus restated a “buy” rating and issued a $55.50 price target on shares of MasTec in a research report on Saturday, August 19th. Finally, ValuEngine upgraded MasTec from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $53.36.
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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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