Chicago Equity Partners LLC grew its position in shares of MasTec, Inc. (NYSE:MTZ) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,330 shares of the construction company’s stock after purchasing an additional 4,480 shares during the period. Chicago Equity Partners LLC owned approximately 0.12% of MasTec worth $4,736,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of MasTec by 2.1% during the second quarter. BlackRock Inc. now owns 4,795,764 shares of the construction company’s stock valued at $243,385,000 after purchasing an additional 100,410 shares in the last quarter. Wells Fargo & Company MN grew its position in MasTec by 50.5% in the second quarter. Wells Fargo & Company MN now owns 2,320,900 shares of the construction company’s stock worth $117,786,000 after acquiring an additional 778,685 shares in the last quarter. Lord Abbett & CO. LLC grew its position in MasTec by 29.7% in the first quarter. Lord Abbett & CO. LLC now owns 1,616,353 shares of the construction company’s stock worth $76,049,000 after acquiring an additional 370,544 shares in the last quarter. Boston Partners grew its position in MasTec by 2.6% in the second quarter. Boston Partners now owns 1,503,110 shares of the construction company’s stock worth $76,283,000 after acquiring an additional 37,654 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its position in MasTec by 1.0% in the second quarter. Frontier Capital Management Co. LLC now owns 1,443,423 shares of the construction company’s stock worth $73,254,000 after acquiring an additional 13,591 shares in the last quarter. Hedge funds and other institutional investors own 81.22% of the company’s stock.
In other MasTec news, EVP Cardenas Alberto De sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $48.00, for a total transaction of $480,000.00. Following the completion of the transaction, the executive vice president now owns 101,755 shares in the company, valued at $4,884,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.10% of the stock is owned by insiders.
Several research analysts recently commented on the company. ValuEngine upgraded MasTec from a “sell” rating to a “hold” rating in a research report on Thursday. Robert W. Baird set a $51.00 price target on MasTec and gave the stock a “buy” rating in a research report on Wednesday. Credit Suisse Group dropped their price target on MasTec from $70.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, May 2nd. Zacks Investment Research lowered MasTec from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $65.00 price target on shares of MasTec in a research report on Friday, August 3rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. MasTec has an average rating of “Buy” and an average price target of $60.08.
Shares of NYSE:MTZ opened at $44.90 on Thursday. MasTec, Inc. has a 1 year low of $39.20 and a 1 year high of $55.53. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 0.87 and a beta of 1.56. The company has a quick ratio of 1.74, a current ratio of 1.82 and a debt-to-equity ratio of 1.07.
MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 2nd. The construction company reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.01. MasTec had a return on equity of 14.84% and a net margin of 5.05%. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. analysts anticipate that MasTec, Inc. will post 3.47 EPS for the current fiscal year.
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.
Further Reading: What is a Fiduciary?
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.