MasTec, Inc. (MTZ) Shares Bought by Wells Fargo & Company MN
Wells Fargo & Company MN grew its position in shares of MasTec, Inc. (NYSE:MTZ) by 19.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 805,192 shares of the construction company’s stock after buying an additional 131,557 shares during the quarter. Wells Fargo & Company MN owned 0.97% of MasTec worth $37,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trexquant Investment LP bought a new position in shares of MasTec during the 3rd quarter valued at $231,000. Legal & General Group Plc raised its holdings in MasTec by 4.5% in the 3rd quarter. Legal & General Group Plc now owns 70,786 shares of the construction company’s stock worth $3,287,000 after purchasing an additional 3,076 shares during the period. ETRADE Capital Management LLC bought a new position in MasTec in the 3rd quarter worth $1,257,000. Three Peaks Capital Management LLC raised its holdings in MasTec by 94.8% in the 3rd quarter. Three Peaks Capital Management LLC now owns 132,308 shares of the construction company’s stock worth $6,139,000 after purchasing an additional 64,398 shares during the period. Finally, American International Group Inc. raised its holdings in MasTec by 8.1% in the 3rd quarter. American International Group Inc. now owns 44,658 shares of the construction company’s stock worth $2,072,000 after purchasing an additional 3,339 shares during the period. 73.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MasTec, Inc. (NYSE:MTZ) traded down $0.25 during mid-day trading on Wednesday, reaching $46.60. The company’s stock had a trading volume of 701,100 shares, compared to its average volume of 899,844. MasTec, Inc. has a 1-year low of $34.33 and a 1-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. The stock has a market cap of $3,877.33, a price-to-earnings ratio of 15.56, a PEG ratio of 1.26 and a beta of 1.53.
MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $1.66 billion. During the same quarter in the prior year, the business posted $0.81 EPS. MasTec’s revenue for the quarter was up 23.3% compared to the same quarter last year. equities analysts anticipate that MasTec, Inc. will post 2.65 earnings per share for the current fiscal year.
MTZ has been the topic of a number of recent research reports. Citigroup set a $54.00 target price on MasTec and gave the stock a “buy” rating in a report on Friday, October 27th. Deutsche Bank raised MasTec from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.50 target price on shares of MasTec in a report on Friday, October 13th. Robert W. Baird raised MasTec from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $51.00 to $53.00 in a report on Monday, November 6th. Finally, ValuEngine cut MasTec from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $55.05.
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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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