Macquarie Group Ltd. Raises Position in MasTec, Inc. (MTZ)
Macquarie Group Ltd. increased its stake in shares of MasTec, Inc. (NYSE:MTZ) by 15.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,046,860 shares of the construction company’s stock after buying an additional 404,076 shares during the period. Macquarie Group Ltd. owned 3.68% of MasTec worth $141,374,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in 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 purchasing an additional 229 shares during the period. SG Americas Securities LLC acquired a new position in MasTec during the 2nd quarter valued at about $102,000. Global X Management Co. LLC lifted its position in MasTec by 220.7% during the 2nd quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock valued at $118,000 after purchasing an additional 1,799 shares during the period. Creative Planning lifted its position in MasTec by 16.4% during the 2nd quarter. Creative Planning now owns 2,685 shares of the construction company’s stock valued at $121,000 after purchasing an additional 379 shares during the period. Finally, Advisory Services Network LLC lifted its position in MasTec by 13.1% during the 2nd quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock valued at $167,000 after purchasing an additional 430 shares during the period. Institutional investors and hedge funds own 71.05% of the company’s stock.
MasTec, Inc. (NYSE:MTZ) traded up $0.35 during midday trading on Friday, reaching $40.60. The company had a trading volume of 858,652 shares, compared to its average volume of 885,676. MasTec, Inc. has a twelve month low of $34.20 and a twelve month high of $49.50. The company has a current ratio of 1.74, a quick ratio of 1.66 and a debt-to-equity ratio of 0.92. The company has a market cap of $3,330.00, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.11 and a beta of 1.54.
MasTec (NYSE:MTZ) last posted its earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the business earned $0.81 EPS. MasTec’s revenue for the quarter was up 23.3% compared to the same quarter last year. analysts anticipate that MasTec, Inc. will post 2.65 EPS for the current fiscal year.
A number of research analysts have issued reports on MTZ shares. Citigroup Inc. set a $54.00 target price on shares of MasTec and gave the company a “buy” rating in a research report on Friday, October 27th. Deutsche Bank AG upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, September 12th. Stifel Nicolaus reiterated a “buy” rating and issued a $55.50 price target on shares of MasTec in a research report on Friday, October 13th. Credit Suisse Group upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and increased their price target for the company from $46.00 to $55.00 in a research report on Monday, July 24th. Finally, Zacks Investment Research downgraded shares of MasTec from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 9th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. MasTec has an average rating of “Buy” and a consensus price target of $55.14.
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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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