Oppenheimer Asset Management Inc. increased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,307 shares of the construction company’s stock after buying an additional 168 shares during the period. Oppenheimer Asset Management Inc.’s holdings in MasTec were worth $119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Weaver Consulting Group acquired a new position in MasTec in the 1st quarter valued at $25,000. C M Bidwell & Associates Ltd. acquired a new position in MasTec in the 2nd quarter valued at $45,000. Advisory Services Network LLC raised its stake in MasTec by 56.2% in the 2nd quarter. Advisory Services Network LLC now owns 2,109 shares of the construction company’s stock valued at $109,000 after purchasing an additional 759 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in MasTec in the 2nd quarter valued at $159,000. Finally, NEXT Financial Group Inc raised its stake in MasTec by 137.2% in the 2nd quarter. NEXT Financial Group Inc now owns 3,465 shares of the construction company’s stock valued at $179,000 after purchasing an additional 2,004 shares during the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.
Shares of MTZ traded up $0.55 during midday trading on Friday, reaching $64.18. The company had a trading volume of 611,544 shares, compared to its average volume of 710,347. MasTec, Inc. has a 1-year low of $37.24 and a 1-year high of $65.57. The stock has a market cap of $4.88 billion, a PE ratio of 17.63 and a beta of 1.33. The firm has a 50 day simple moving average of $59.87 and a 200-day simple moving average of $51.72. The company has a quick ratio of 1.44, a current ratio of 1.53 and a debt-to-equity ratio of 0.92.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 1st. The construction company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.51. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.80 billion. MasTec had a return on equity of 23.43% and a net margin of 4.29%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period last year, the company earned $1.04 EPS. As a group, sell-side analysts anticipate that MasTec, Inc. will post 4.9 earnings per share for the current fiscal year.
Several research analysts recently commented on MTZ shares. B. Riley increased their price objective on MasTec from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Barclays raised their target price on MasTec from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Credit Suisse Group raised their target price on MasTec from $62.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. ValuEngine raised MasTec from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, UBS Group started coverage on MasTec in a research note on Tuesday, May 28th. They issued a “buy” rating and a $60.00 target price for the company. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $66.08.
In related news, Director Ernst N. Csiszar sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $64.53, for a total transaction of $193,590.00. Following the completion of the sale, the director now directly owns 25,564 shares of the company’s stock, valued at approximately $1,649,644.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert E. Apple sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $60.05, for a total value of $1,501,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 33,000 shares of company stock valued at $1,983,440 over the last three months. Corporate insiders own 22.00% of the company’s stock.
MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other 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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