Monarch Partners Asset Management LLC Takes Position in MasTec, Inc. (MTZ)
Monarch Partners Asset Management LLC bought a new stake in MasTec, Inc. (NYSE:MTZ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 143,850 shares of the construction company’s stock, valued at approximately $6,495,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global X Management Co. LLC increased its position in MasTec by 220.7% in the second quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock valued at $118,000 after buying an additional 1,799 shares during the period. Mesirow Financial Investment Management Equity Management increased its position in MasTec by 28.9% in the second quarter. Mesirow Financial Investment Management Equity Management now owns 480,333 shares of the construction company’s stock valued at $21,689,000 after buying an additional 107,580 shares during the period. Chicago Partners Investment Group LLC purchased a new position in MasTec during the second quarter valued at $157,000. ARP Americas LLC purchased a new position in MasTec during the second quarter valued at $342,000. Finally, Sei Investments Co. increased its position in MasTec by 16.9% in the second quarter. Sei Investments Co. now owns 132,678 shares of the construction company’s stock valued at $5,991,000 after buying an additional 19,190 shares during the period. 70.36% of the stock is currently owned by institutional investors and hedge funds.
MasTec, Inc. (NYSE:MTZ) opened at 40.25 on Friday. The stock has a market capitalization of $3.26 billion, a P/E ratio of 14.19 and a beta of 1.44. The company’s 50-day moving average is $45.09 and its 200-day moving average is $42.16. MasTec, Inc. has a 12 month low of $26.75 and a 12 month high of $49.50.
MasTec (NYSE:MTZ) last posted its earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business earned $0.36 EPS. MasTec’s revenue for the quarter was up 53.4% compared to the same quarter last year. Equities analysts anticipate that MasTec, Inc. will post $2.74 earnings per share for the current year.
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Several research analysts have recently weighed in on the stock. BidaskClub downgraded shares of MasTec from a “strong-buy” rating to a “buy” rating in a research report on Friday. Zacks Investment Research raised 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. FBR & Co lifted their target price on shares of MasTec from $57.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. ValuEngine raised shares of MasTec from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Finally, Credit Suisse Group raised shares of MasTec from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $46.00 to $55.00 in a research report on Monday, July 24th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $46.47.
In other 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 transaction of $540,000.00. Following the completion of the transaction, the director now directly owns 67,082 shares of the company’s stock, valued at approximately $3,018,690. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jose S. Sorzano sold 2,391 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $45.56, for a total transaction of $108,933.96. Following the transaction, the director now directly owns 37,545 shares of the company’s stock, valued at $1,710,550.20. The disclosure for this sale can be found here. 20.30% of the stock is currently owned by corporate insiders.
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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