27,551 Shares in MasTec, Inc. (MTZ) Acquired by Comerica Bank
Comerica Bank acquired a new stake in MasTec, Inc. (NYSE:MTZ) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 27,551 shares of the construction company’s stock, valued at approximately $1,236,000.
A number of other institutional investors have also recently bought and sold shares of MTZ. US Bancorp DE boosted its position in MasTec by 0.3% in the first quarter. US Bancorp DE now owns 44,625 shares of the construction company’s stock valued at $1,788,000 after buying an additional 123 shares during the last quarter. Guggenheim Capital LLC boosted its position in MasTec by 2.9% in the fourth quarter. Guggenheim Capital LLC now owns 11,819 shares of the construction company’s stock valued at $452,000 after buying an additional 330 shares during the last quarter. IFP Advisors Inc boosted its position in MasTec by 218.6% in the first quarter. IFP Advisors Inc now owns 2,514 shares of the construction company’s stock valued at $101,000 after buying an additional 1,725 shares during the last quarter. Algert Global LLC boosted its position in MasTec by 3.9% in the first quarter. Algert Global LLC now owns 71,711 shares of the construction company’s stock valued at $2,872,000 after buying an additional 2,687 shares during the last quarter. Finally, Pacad Investment Ltd. purchased a new position in MasTec during the fourth quarter valued at $107,000. Hedge funds and other institutional investors own 69.11% of the company’s stock.
MasTec, Inc. (MTZ) opened at 44.65 on Friday. MasTec, Inc. has a 12-month low of $20.86 and a 12-month high of $47.90. The stock’s 50 day moving average is $43.62 and its 200 day moving average is $40.16. The stock has a market capitalization of $3.61 billion, a PE ratio of 20.95 and a beta of 1.36.
MasTec (NYSE:MTZ) last released its earnings results on Thursday, May 4th. The construction company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.06 billion. MasTec had a net margin of 3.29% and a return on equity of 18.02%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. Analysts forecast that MasTec, Inc. will post $2.46 EPS for the current year.
Several research firms have weighed in on MTZ. Zacks Investment Research cut shares of MasTec from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 11th. Vetr upgraded shares of MasTec from a “buy” rating to a “strong-buy” rating and set a $45.42 price objective on the stock in a research report on Thursday, May 25th. Canaccord Genuity reiterated a “buy” rating and set a $52.00 price objective on shares of MasTec in a research report on Monday, May 15th. FBR & Co lifted their price objective on shares of MasTec from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, DA Davidson boosted their price target on shares of MasTec from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, May 8th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. MasTec currently has an average rating of “Buy” and an average target price of $42.40.
In related news, Director Jose S. Sorzano sold 2,391 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $45.56, for a total value of $108,933.96. Following the completion of the transaction, the director now owns 37,545 shares of the company’s stock, valued at $1,710,550.20. The transaction was disclosed in a legal filing with the SEC, 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 on Wednesday, April 26th. The shares were sold at an average price of $45.06, for a total transaction of $1,126,500.00. Following the completion of the transaction, the chief operating officer now directly owns 227,816 shares of the company’s stock, valued at approximately $10,265,388.96. The disclosure for this sale can be found here. 20.30% of the stock is currently owned by company insiders.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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