Kiwi Wealth Investments Limited Partnership Acquires New Stake in MasTec, Inc. (MTZ)
Kiwi Wealth Investments Limited Partnership acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 137,045 shares of the construction company’s stock, valued at approximately $6,359,000. Kiwi Wealth Investments Limited Partnership owned 0.17% of MasTec at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in MasTec by 12.6% during the third quarter. Bank of New York Mellon Corp now owns 364,094 shares of the construction company’s stock valued at $16,893,000 after purchasing an additional 40,854 shares during the period. Advisor Group Inc. raised its holdings in shares of MasTec by 27.6% in the third quarter. Advisor Group Inc. now owns 11,543 shares of the construction company’s stock worth $535,000 after buying an additional 2,496 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of MasTec by 458.6% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 31,401 shares of the construction company’s stock worth $1,457,000 after buying an additional 25,780 shares during the period. Sei Investments Co. raised its holdings in shares of MasTec by 32.4% in the third quarter. Sei Investments Co. now owns 175,651 shares of the construction company’s stock worth $8,150,000 after buying an additional 42,973 shares during the period. Finally, Pax World Management LLC purchased a new stake in shares of MasTec in the third quarter worth approximately $1,748,000. Institutional investors and hedge funds own 71.05% of the company’s stock.
MasTec, Inc. (NYSE:MTZ) traded down $1.30 on Wednesday, reaching $41.15. The company’s stock had a trading volume of 828,100 shares, compared to its average volume of 880,183. The stock has a market cap of $3,370.00, a P/E ratio of 14.10, a P/E/G ratio of 1.14 and a beta of 1.54. MasTec, Inc. has a one year low of $34.20 and a one year high of $49.50. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.74 and a quick ratio of 1.66.
MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.73 by $0.09. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.66 billion. MasTec had a return on equity of 20.67% and a net margin of 3.78%. MasTec’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. equities analysts anticipate that MasTec, Inc. will post 2.65 EPS for the current year.
MTZ has been the topic of several recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $55.50 price target on shares of MasTec in a report on Saturday, August 19th. Citigroup Inc. upgraded MasTec from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Friday, August 18th. Canaccord Genuity reiterated a “buy” rating and issued a $55.00 price target on shares of MasTec in a report on Tuesday, August 15th. BidaskClub downgraded MasTec from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Finally, Zacks Investment Research upgraded MasTec from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, August 8th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $55.14.
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.
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