American International Group Inc. raised its stake in shares of MasTec, Inc. (NYSE:MTZ) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,658 shares of the construction company’s stock after acquiring an additional 3,339 shares during the period. American International Group Inc. owned approximately 0.05% of MasTec worth $2,072,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MasTec by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock valued at $100,000 after acquiring an additional 229 shares during the last quarter. SG Americas Securities LLC purchased a new stake in MasTec during the 2nd quarter valued at approximately $102,000. Global X Management Co. LLC raised its stake in MasTec by 220.7% during the 2nd quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock valued at $118,000 after acquiring an additional 1,799 shares during the last quarter. Creative Planning raised its stake in MasTec by 16.4% during the 2nd quarter. Creative Planning now owns 2,685 shares of the construction company’s stock valued at $121,000 after acquiring an additional 379 shares during the last quarter. Finally, Advisory Services Network LLC raised its stake in MasTec by 13.1% during the 2nd quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock valued at $167,000 after acquiring an additional 430 shares during the last quarter. 73.23% of the stock is owned by hedge funds and other institutional investors.
MTZ has been the subject of a number of analyst reports. Zacks Investment Research downgraded MasTec from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 9th. Deutsche Bank raised MasTec from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, September 12th. BidaskClub downgraded MasTec from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Stifel Nicolaus reissued a “buy” rating and set a $55.50 target price on shares of MasTec in a research note on Saturday, August 19th. Finally, ValuEngine downgraded MasTec from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.14.
Shares of MasTec, Inc. (NYSE MTZ) traded up $1.45 during mid-day trading on Monday, hitting $47.45. The stock had a trading volume of 1,258,200 shares, compared to its average volume of 899,846. The stock has a market cap of $3,930.00, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 1.28 and a beta of 1.53. MasTec, Inc. has a fifty-two week low of $34.33 and a fifty-two week 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.
MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.66 billion. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The company’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.81 EPS. analysts expect that MasTec, Inc. will post 2.65 earnings per share for the current year.
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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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