MasTec, Inc. (MTZ) Holdings Boosted by Amalgamated Bank
Amalgamated Bank raised its position in MasTec, Inc. (NYSE:MTZ) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,564 shares of the construction company’s stock after buying an additional 447 shares during the quarter. Amalgamated Bank’s holdings in MasTec were worth $387,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of MasTec by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 6,884,461 shares of the construction company’s stock valued at $275,723,000 after purchasing an additional 743,879 shares during the last quarter. BlackRock Inc. grew its holdings in shares of MasTec by 15,957.0% during the 1st quarter. BlackRock Inc. now owns 5,192,338 shares of the construction company’s stock valued at $207,953,000 after purchasing an additional 5,160,001 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of MasTec by 126.7% during the 2nd quarter. Prudential Financial Inc. now owns 1,484,687 shares of the construction company’s stock valued at $67,033,000 after purchasing an additional 829,650 shares during the last quarter. State Street Corp grew its holdings in shares of MasTec by 3.0% during the 1st quarter. State Street Corp now owns 1,235,539 shares of the construction company’s stock valued at $49,481,000 after purchasing an additional 36,274 shares during the last quarter. Finally, Rothschild Asset Management Inc. grew its holdings in shares of MasTec by 7.8% during the 2nd quarter. Rothschild Asset Management Inc. now owns 796,826 shares of the construction company’s stock valued at $35,977,000 after purchasing an additional 57,463 shares during the last quarter. 70.62% of the stock is currently owned by hedge funds and other institutional investors.
MasTec, Inc. (MTZ) opened at 45.95 on Friday. The firm has a market cap of $3.72 billion, a P/E ratio of 16.20 and a beta of 1.45. The stock has a 50 day moving average of $43.05 and a 200-day moving average of $43.20. MasTec, Inc. has a 12 month low of $27.10 and a 12 month high of $49.50.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.34. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business earned $0.36 earnings per share. The business’s revenue was up 53.4% on a year-over-year basis. Equities research analysts predict that MasTec, Inc. will post $2.74 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on MTZ shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $55.50 price target on shares of MasTec in a report on Saturday, August 19th. Citigroup Inc. upgraded shares of MasTec from a “neutral” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Friday, August 18th. Canaccord Genuity reiterated a “buy” rating and set a $55.00 target price on shares of MasTec in a research report on Tuesday, August 15th. BidaskClub downgraded shares of MasTec from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Zacks Investment Research 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, August 8th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. MasTec presently has a consensus rating of “Buy” and a consensus target price of $53.36.
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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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