JPMorgan Chase & Co. Has $14.22 Million Position in MasTec, Inc. (MTZ)
JPMorgan Chase & Co. lowered its position in shares of MasTec, Inc. (NYSE:MTZ) by 18.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 318,415 shares of the construction company’s stock after selling 71,117 shares during the quarter. JPMorgan Chase & Co. owned 0.40% of MasTec worth $14,217,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MTZ. Chicago Partners Investment Group LLC grew its holdings in MasTec by 79.0% during the second quarter. Chicago Partners Investment Group LLC now owns 2,775 shares of the construction company’s stock valued at $141,000 after purchasing an additional 1,225 shares during the period. Profit Investment Management LLC grew its holdings in MasTec by 2.6% during the third quarter. Profit Investment Management LLC now owns 51,101 shares of the construction company’s stock valued at $161,000 after purchasing an additional 1,304 shares during the period. UBP Investment Advisors SA acquired a new position in MasTec during the third quarter valued at approximately $223,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew 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 valued at $239,000 after purchasing an additional 1,880 shares during the period. Finally, MHI Funds LLC acquired a new position in MasTec during the third quarter valued at approximately $241,000. Hedge funds and other institutional investors own 84.91% of the company’s stock.
Several research analysts have recently weighed in on the stock. ValuEngine cut shares of MasTec from a “hold” rating to a “sell” rating in a report on Wednesday, November 21st. Citigroup set a $70.00 price target on shares of MasTec and gave the company a “buy” rating in a report on Monday, November 5th. Robert W. Baird upped their price target on shares of MasTec from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, November 2nd. Canaccord Genuity reduced their price target on shares of MasTec from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, November 5th. Finally, Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, October 22nd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $60.42.
MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, November 1st. The construction company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts predict that MasTec, Inc. will post 3.65 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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