MasTec, Inc. (MTZ) Shares Sold by First Trust Advisors LP
First Trust Advisors LP cut its stake in shares of MasTec, Inc. (NYSE:MTZ) by 15.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 207,824 shares of the construction company’s stock after selling 38,652 shares during the quarter. First Trust Advisors LP owned 0.26% of MasTec worth $9,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in the business. Fisher Asset Management LLC bought a new stake in MasTec during the third quarter valued at approximately $2,775,000. Gs Investments Inc. bought a new stake in MasTec during the second quarter valued at approximately $1,323,000. Advisory Services Network LLC lifted its position in MasTec by 13.1% during the second 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 last quarter. Dynamic Technology Lab Private Ltd bought a new stake in MasTec during the second quarter valued at approximately $894,000. Finally, Koch Industries Inc. bought a new stake in MasTec during the second quarter valued at approximately $429,000. Institutional investors and hedge funds own 70.71% of the company’s stock.
Shares of MasTec, Inc. (NYSE MTZ) opened at $42.90 on Friday. MasTec, Inc. has a 1-year low of $33.30 and a 1-year 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 $3,566.98, a price-to-earnings ratio of 14.32, a P/E/G ratio of 1.16 and a beta of 1.54.
MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.09. MasTec had a net margin of 3.78% and a return on equity of 20.67%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the business posted $0.81 EPS. The firm’s revenue 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 subject of a number of recent research reports. B. Riley restated a “buy” rating and issued a $67.00 price objective (up from $66.00) on shares of MasTec in a report on Tuesday. ValuEngine upgraded shares of MasTec from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Citigroup Inc. upgraded shares of MasTec from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Friday, August 18th. Credit Suisse Group upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $46.00 to $55.00 in a report on Monday, July 24th. Finally, Canaccord Genuity restated a “buy” rating and issued a $55.00 price objective on shares of MasTec in a report on Tuesday, August 15th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. MasTec currently has an average rating of “Buy” and a consensus target price of $55.14.
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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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