DnB Asset Management AS boosted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 19.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 784,000 shares of the construction company’s stock after buying an additional 128,000 shares during the period. DnB Asset Management AS owned 0.95% of MasTec worth $38,377,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MasTec by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after buying an additional 229 shares during the period. SG Americas Securities LLC purchased a new stake in MasTec during the second quarter worth $102,000. Advisory Services Network LLC lifted its holdings in MasTec by 13.1% during the second quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock worth $167,000 after buying an additional 430 shares during the period. D.A. Davidson & CO. lifted its holdings in MasTec by 110.2% during the second quarter. D.A. Davidson & CO. now owns 3,800 shares of the construction company’s stock worth $171,000 after buying an additional 1,992 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in MasTec by 67.6% during the third quarter. Envestnet Asset Management Inc. now owns 4,479 shares of the construction company’s stock worth $209,000 after buying an additional 1,807 shares during the period. Institutional investors own 73.22% of the company’s stock.
A number of analysts have weighed in on MTZ shares. B. Riley restated a “buy” rating and set a $67.00 target price (up previously from $66.00) on shares of MasTec in a report on Tuesday, November 7th. Robert W. Baird set a $56.00 price objective on MasTec and gave the company a “buy” rating in a report on Wednesday, January 3rd. Craig Hallum increased their price objective on MasTec from $57.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. KeyCorp reiterated a “buy” rating and set a $51.00 price objective on shares of MasTec in a report on Tuesday, September 19th. Finally, Deutsche Bank upgraded MasTec from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, September 12th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $56.33.
MasTec, Inc. (MTZ) opened at $49.95 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.74 and a quick ratio of 1.66. MasTec, Inc. has a 12-month low of $34.35 and a 12-month high of $51.20. The stock has a market capitalization of $4,130.00, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.25 and a beta of 1.54.
MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.09. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.66 billion. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. research analysts predict that MasTec, Inc. will post 2.65 earnings per share for the current year.
In other MasTec news, COO Robert E. Apple sold 25,000 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $50.16, for a total transaction of $1,254,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. 20.30% of the stock is currently owned by company insiders.
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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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