Zacks Investment Management Cuts Holdings in MasTec, Inc. (MTZ)
Zacks Investment Management decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 7.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,724 shares of the construction company’s stock after selling 2,013 shares during the quarter. Zacks Investment Management’s holdings in MasTec were worth $1,071,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of MasTec by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock valued at $100,000 after purchasing an additional 229 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of MasTec during the 2nd quarter worth about $102,000. Envestnet Asset Management Inc. boosted its holdings in shares of MasTec by 7.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock worth $107,000 after buying an additional 197 shares during the period. Global X Management Co. LLC boosted its holdings in shares of MasTec by 220.7% during the 2nd quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock worth $118,000 after buying an additional 1,799 shares during the period. Finally, Creative Planning boosted its holdings in shares of MasTec by 16.4% during the 2nd quarter. Creative Planning now owns 2,685 shares of the construction company’s stock worth $121,000 after buying an additional 379 shares during the period. 70.62% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently commented on MTZ shares. KeyCorp reiterated a “buy” rating and issued a $51.00 price target on shares of MasTec in a research note on Tuesday, September 19th. Deutsche Bank AG raised 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, September 12th. ValuEngine downgraded MasTec from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub downgraded MasTec from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $55.50 target price on shares of MasTec in a research note on Saturday, August 19th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. MasTec currently has a consensus rating of “Buy” and a consensus target price of $53.36.
MasTec, Inc. (NYSE MTZ) opened at 46.70 on Tuesday. MasTec, Inc. has a 1-year low of $27.10 and a 1-year high of $49.50. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 16.47 and a beta of 1.44. The firm’s 50-day moving average price is $42.32 and its 200-day moving average price is $43.06.
MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.34. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business earned $0.36 EPS. MasTec’s revenue was up 53.4% compared to the same quarter last year. Equities research analysts forecast that MasTec, Inc. will post $2.74 EPS for the current fiscal year.
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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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