Stack Financial Management Inc trimmed its position in shares of MasTec, Inc. (NYSE:MTZ) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,624 shares of the construction company’s stock after selling 6,875 shares during the quarter. Stack Financial Management Inc’s holdings in MasTec were worth $10,431,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of MTZ. Chicago Partners Investment Group LLC increased its stake in shares of MasTec by 79.0% during the second quarter. Chicago Partners Investment Group LLC now owns 2,775 shares of the construction company’s stock worth $141,000 after acquiring an additional 1,225 shares during the period. Profit Investment Management LLC increased its stake in shares of MasTec by 2.6% during the third quarter. Profit Investment Management LLC now owns 51,101 shares of the construction company’s stock worth $161,000 after acquiring an additional 1,304 shares during the period. Wellington Shields Capital Management LLC purchased a new stake in MasTec during the second quarter worth about $203,000. UBP Investment Advisors SA purchased a new stake in MasTec during the third quarter worth about $223,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in MasTec by 66.7% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,700 shares of the construction company’s stock worth $239,000 after buying an additional 1,880 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.
A number of analysts recently commented on the stock. Citigroup set a $70.00 price objective on shares of MasTec and gave the stock a “buy” rating in a report on Monday. Canaccord Genuity decreased their price objective on shares of MasTec from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday. Robert W. Baird boosted their price objective on shares of MasTec from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, November 2nd. Zacks Investment Research downgraded shares of MasTec from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. Finally, ValuEngine raised shares of MasTec from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $60.55.
Shares of NYSE MTZ traded down $0.53 on Wednesday, hitting $47.70. The company’s stock had a trading volume of 144,497 shares, compared to its average volume of 1,216,757. MasTec, Inc. has a 12-month low of $39.83 and a 12-month high of $55.53. The company has a market capitalization of $3.83 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.69 and a beta of 1.43. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.94 and a quick ratio of 1.85.
MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, November 1st. The construction company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.13. MasTec had a net margin of 5.89% and a return on equity of 17.01%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts forecast that MasTec, Inc. will post 3.53 EPS for the current fiscal year.
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MasTec Company 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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