Wexford Capital LP Purchases Shares of 118,800 MasTec, Inc. (MTZ)
Wexford Capital LP purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 118,800 shares of the construction company’s stock, valued at approximately $5,304,000. Wexford Capital LP owned 0.15% of MasTec as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. increased its stake in MasTec by 5.4% during the third quarter. BlackRock Inc. now owns 5,055,794 shares of the construction company’s stock valued at $225,742,000 after acquiring an additional 260,030 shares during the period. Macquarie Group Ltd. grew its stake in shares of MasTec by 1.5% in the 2nd quarter. Macquarie Group Ltd. now owns 3,060,379 shares of the construction company’s stock valued at $155,315,000 after purchasing an additional 45,895 shares during the period. Wells Fargo & Company MN grew its stake in shares of MasTec by 50.5% in the 2nd quarter. Wells Fargo & Company MN now owns 2,320,900 shares of the construction company’s stock valued at $117,786,000 after purchasing an additional 778,685 shares during the period. Boston Partners grew its stake in shares of MasTec by 2.6% in the 2nd quarter. Boston Partners now owns 1,503,110 shares of the construction company’s stock valued at $76,283,000 after purchasing an additional 37,654 shares during the period. Finally, Schroder Investment Management Group grew its stake in shares of MasTec by 67.5% in the 3rd quarter. Schroder Investment Management Group now owns 1,374,573 shares of the construction company’s stock valued at $61,375,000 after purchasing an additional 553,718 shares during the period. Hedge funds and other institutional investors own 84.91% of the company’s stock.
Several research firms have recently weighed in on MTZ. Zacks Investment Research lowered MasTec from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. ValuEngine lowered MasTec from a “hold” rating to a “sell” rating in a research note on Wednesday, November 21st. Robert W. Baird lowered MasTec from an “outperform” rating to a “neutral” rating and set a $50.67 price objective on the stock. in a research note on Friday, November 9th. Citigroup set a $70.00 price objective on MasTec and gave the company a “buy” rating in a research note on Monday, November 5th. Finally, Canaccord Genuity lowered their price objective on MasTec from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $60.42.
MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, November 1st. The construction company reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.13. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.99 billion. MasTec had a return on equity of 17.01% and a net margin of 5.89%. MasTec’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 EPS. As a group, equities analysts expect that MasTec, Inc. will post 3.65 earnings per share for the current year.
MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.
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