1060 Capital LLC raised its stake in MasTec, Inc. (NYSE:MTZ) by 81.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 543,428 shares of the construction company’s stock after buying an additional 243,428 shares during the period. MasTec makes up 5.6% of 1060 Capital LLC’s investment portfolio, making the stock its 8th largest position. 1060 Capital LLC owned about 0.66% of MasTec worth $24,536,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MTZ. BlackRock Inc. raised its stake in MasTec by 15,957.0% in the first quarter. BlackRock Inc. now owns 5,192,338 shares of the construction company’s stock valued at $207,953,000 after buying an additional 5,160,001 shares during the period. Goldman Sachs Group Inc. raised its stake in MasTec by 39.4% in the first quarter. Goldman Sachs Group Inc. now owns 144,000 shares of the construction company’s stock valued at $5,767,000 after buying an additional 40,682 shares during the period. Legal & General Group Plc raised its stake in MasTec by 2.2% in the first quarter. Legal & General Group Plc now owns 77,102 shares of the construction company’s stock valued at $3,081,000 after buying an additional 1,644 shares during the period. UBS Asset Management Americas Inc. raised its stake in MasTec by 0.3% in the first quarter. UBS Asset Management Americas Inc. now owns 44,275 shares of the construction company’s stock valued at $1,773,000 after buying an additional 146 shares during the period. Finally, Vanguard Group Inc. raised its stake in MasTec by 12.1% in the first quarter. Vanguard Group Inc. now owns 6,884,461 shares of the construction company’s stock valued at $275,723,000 after buying an additional 743,879 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Shares of MasTec, Inc. (NYSE MTZ) opened at 39.75 on Tuesday. The firm has a 50 day moving average of $43.62 and a 200 day moving average of $42.24. MasTec, Inc. has a 52 week low of $26.75 and a 52 week high of $49.50. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 14.02 and a beta of 1.44.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.34. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.50 billion. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The firm’s quarterly revenue was up 53.4% on a year-over-year basis. During the same quarter last year, the business earned $0.36 EPS. Equities analysts predict that MasTec, Inc. will post $2.74 earnings per share for the current fiscal year.

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Several equities research analysts recently weighed in on MTZ shares. ValuEngine upgraded shares of MasTec from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. BidaskClub lowered shares of MasTec from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, August 8th. Vetr upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $45.42 price target on the stock in a research note on Monday, May 15th. Finally, Deutsche Bank AG raised their price target on shares of MasTec from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, May 8th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $52.46.

In related news, Director C Robert Campbell sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total value of $540,000.00. Following the completion of the transaction, the director now owns 67,082 shares in the company, valued at approximately $3,018,690. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jose S. Sorzano sold 2,391 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $45.56, for a total transaction of $108,933.96. Following the completion of the transaction, the director now owns 37,545 shares of the company’s stock, valued at approximately $1,710,550.20. The disclosure for this sale can be found here. 20.30% of the stock is owned by company insiders.

About MasTec

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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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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