Dimensional Fund Advisors LP Lowers Stake in MasTec, Inc. (MTZ)

Dimensional Fund Advisors LP cut its stake in shares of MasTec, Inc. (NYSE:MTZ) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,753,757 shares of the construction company’s stock after selling 70,836 shares during the period. Dimensional Fund Advisors LP owned 3.50% of MasTec worth $122,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MTZ. Schroder Investment Management Group purchased a new stake in shares of MasTec during the 2nd quarter valued at $41,125,000. Pictet Asset Management Ltd. grew its stake in shares of MasTec by 153.8% during the 3rd quarter. Pictet Asset Management Ltd. now owns 802,820 shares of the construction company’s stock valued at $35,846,000 after buying an additional 486,498 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of MasTec by 58.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 760,000 shares of the construction company’s stock valued at $33,934,000 after buying an additional 280,000 shares during the period. BlackRock Inc. grew its stake in shares of MasTec by 5.4% during the 3rd quarter. BlackRock Inc. now owns 5,055,794 shares of the construction company’s stock valued at $225,742,000 after buying an additional 260,030 shares during the period. Finally, Stack Financial Management Inc purchased a new stake in shares of MasTec during the 2nd quarter valued at $12,205,000. 84.91% of the stock is owned by institutional investors.

NYSE:MTZ opened at $40.86 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.85 and a debt-to-equity ratio of 1.13. The firm has a market cap of $3.36 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. MasTec, Inc. has a twelve month low of $40.02 and a twelve month high of $55.53.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, November 1st. The construction company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.13. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.99 billion. MasTec had a net margin of 5.89% and a return on equity of 17.01%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 EPS. Sell-side analysts forecast that MasTec, Inc. will post 3.65 EPS for the current year.

MTZ has been the subject of several research reports. ValuEngine raised shares of MasTec from a “sell” rating to a “hold” rating in a research note on Tuesday, November 27th. Zacks Investment Research cut shares of MasTec from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Citigroup reissued a “buy” rating on shares of MasTec in a research note on Thursday, August 30th. Robert W. Baird set a $51.00 price objective on shares of MasTec and gave the company a “buy” rating in a research note on Wednesday, August 29th. Finally, Canaccord Genuity lowered their price objective on shares of MasTec from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, November 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $60.42.

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MasTec Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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