DnB Asset Management AS Has $38.38 Million Stake in MasTec, Inc. (MTZ)
DnB Asset Management AS increased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 19.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 784,000 shares of the construction company’s stock after buying an additional 128,000 shares during the period. DnB Asset Management AS’s holdings in MasTec were worth $38,377,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MasTec by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock valued at $100,000 after acquiring an additional 229 shares during the period. SG Americas Securities LLC purchased a new position in MasTec in the 2nd quarter valued at about $102,000. Advisory Services Network LLC lifted its stake in MasTec by 13.1% in the 2nd quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock valued at $167,000 after buying an additional 430 shares in the last quarter. D.A. Davidson & CO. lifted its stake in MasTec by 110.2% in the 2nd quarter. D.A. Davidson & CO. now owns 3,800 shares of the construction company’s stock valued at $171,000 after buying an additional 1,992 shares in the last quarter. Finally, Sii Investments Inc. WI purchased a new position in MasTec in the 2nd quarter valued at about $205,000. Hedge funds and other institutional investors own 73.22% of the company’s stock.
A number of brokerages recently weighed in on MTZ. Robert W. Baird set a $56.00 price target on shares of MasTec and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Zacks Investment Research raised shares of MasTec from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research note on Wednesday, January 3rd. Craig Hallum raised their price target on shares of MasTec from $57.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Barclays began coverage on shares of MasTec in a research note on Tuesday, December 12th. They issued an “overweight” rating and a $54.00 price target on the stock. Finally, B. Riley reaffirmed a “buy” rating and issued a $67.00 price target (up from $66.00) on shares of MasTec in a research note on Tuesday, November 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $56.33.
MasTec, Inc. (MTZ) opened at $49.95 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.74 and a debt-to-equity ratio of 0.92. MasTec, Inc. has a 12 month low of $34.35 and a 12 month high of $51.20. The firm has a market cap of $4,130.00, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 1.25 and a beta of 1.54.
MasTec (NYSE:MTZ) last released its earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.09. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.66 billion. MasTec had a net margin of 3.78% and a return on equity of 20.67%. The business’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. sell-side analysts predict that MasTec, Inc. will post 2.65 earnings per share for the current fiscal year.
In other news, COO Robert E. Apple sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $50.16, for a total transaction of $1,254,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 20.30% of the stock is owned by company insiders.
ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/dnb-asset-management-as-has-38-38-million-stake-in-mastec-inc-mtz/1801210.html.
MasTec Company Profile
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.
Want to see what other hedge funds are holding MTZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MasTec, Inc. (NYSE:MTZ).
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 Analyst Ratings Network's FREE daily email newsletter.