Prudential Financial Inc. reduced its stake in shares of MasTec, Inc. (NYSE:MTZ) by 10.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,334,323 shares of the construction company’s stock after selling 150,364 shares during the quarter. Prudential Financial Inc. owned 1.61% of MasTec worth $61,912,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MasTec by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock valued at $100,000 after purchasing an additional 229 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of MasTec in the 2nd quarter worth about $102,000. Advisory Services Network LLC grew its holdings in shares of MasTec by 13.1% in the 2nd quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock worth $167,000 after purchasing an additional 430 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of MasTec by 110.2% in the 2nd quarter. D.A. Davidson & CO. now owns 3,800 shares of the construction company’s stock worth $171,000 after purchasing an additional 1,992 shares during the last quarter. Finally, Sii Investments Inc. WI bought a new stake in shares of MasTec in the 2nd quarter worth about $205,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.
In other MasTec news, COO Robert E. Apple sold 25,000 shares of the firm’s stock in a transaction on 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 Securities & Exchange Commission, which is available at this link. Company insiders own 20.30% of the company’s stock.
MasTec, Inc. (NYSE MTZ) opened at $52.50 on Friday. MasTec, Inc. has a 52 week low of $34.60 and a 52 week high of $52.65. The company has a quick ratio of 1.66, a current ratio of 1.74 and a debt-to-equity ratio of 0.92. The firm has a market cap of $4,340.00, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.30 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 (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.09. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm posted $0.81 EPS. The company’s quarterly revenue was up 23.3% on a year-over-year basis. research analysts anticipate that MasTec, Inc. will post 2.65 EPS for the current fiscal year.
A number of brokerages have commented on MTZ. KeyCorp reissued a “buy” rating and set a $51.00 price objective on shares of MasTec in a report on Tuesday, September 19th. Zacks Investment Research lowered shares of MasTec from a “strong-buy” rating to a “hold” rating in a report on Monday, October 9th. Stifel Nicolaus reissued a “buy” rating and set a $55.50 price objective on shares of MasTec in a report on Friday, October 13th. Citigroup set a $54.00 target price on shares of MasTec and gave the company a “buy” rating in a research report on Friday, October 27th. Finally, Robert W. Baird upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and upped their target price for the company from $51.00 to $53.00 in a research report on Monday, November 6th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $56.33.
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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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