MasTec (NYSE:MTZ – Get Rating) announced its earnings results on Thursday. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08, Briefing.com reports. MasTec had a net margin of 1.99% and a return on equity of 10.86%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the firm posted $1.23 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year.
MasTec Trading Up 1.3 %
Shares of NYSE MTZ traded up $1.05 during midday trading on Friday, hitting $81.29. The stock had a trading volume of 788,904 shares, compared to its average volume of 749,631. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.49 and a quick ratio of 1.44. MasTec has a fifty-two week low of $62.64 and a fifty-two week high of $104.21. The company’s 50-day simple moving average is $75.70 and its 200 day simple moving average is $80.17. The firm has a market cap of $6.17 billion, a P/E ratio of 35.81 and a beta of 1.28.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTZ. Covestor Ltd lifted its holdings in shares of MasTec by 40.1% in the first quarter. Covestor Ltd now owns 507 shares of the construction company’s stock valued at $44,000 after purchasing an additional 145 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of MasTec in the first quarter valued at about $52,000. Lazard Asset Management LLC bought a new stake in shares of MasTec in the first quarter valued at about $53,000. Echo Street Capital Management LLC bought a new stake in shares of MasTec in the first quarter valued at about $231,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of MasTec in the first quarter valued at about $232,000. 68.44% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
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 Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.
- Get a free copy of the StockNews.com research report on MasTec (MTZ)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
- Why Apple Could Be At All-Time Highs By Year End
Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.