Icon Advisers Inc. Co. purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 355,800 shares of the construction company’s stock, valued at approximately $16,509,000. MasTec comprises about 1.2% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 10th biggest holding. Icon Advisers Inc. Co. owned about 0.43% of MasTec at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTZ. Teacher Retirement System of Texas increased its holdings in MasTec by 0.6% during the second quarter. Teacher Retirement System of Texas now owns 5,310 shares of the construction company’s stock worth $240,000 after buying an additional 30 shares during the last quarter. Comerica Bank boosted its position in MasTec by 0.3% during the second quarter. Comerica Bank now owns 27,639 shares of the construction company’s stock worth $1,295,000 after purchasing an additional 88 shares during the period. State Board of Administration of Florida Retirement System boosted its position in MasTec by 0.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 53,067 shares of the construction company’s stock worth $2,396,000 after purchasing an additional 139 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in MasTec by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after purchasing an additional 229 shares during the period. Finally, Creative Planning boosted its position in shares of MasTec by 16.4% in the second 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 period. 73.23% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on MTZ. B. Riley restated a “buy” rating and issued a $67.00 price objective (up from $66.00) on shares of MasTec in a research report on Tuesday, November 7th. Citigroup upgraded shares of MasTec from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Friday, August 18th. Canaccord Genuity reissued a “buy” rating and set a $55.00 price target on shares of MasTec in a research note on Tuesday, August 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $55.50 price target on shares of MasTec in a report on Saturday, August 19th. Finally, KeyCorp restated a “buy” rating and set a $51.00 target price on shares of MasTec in a report on Tuesday, September 19th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. MasTec presently has an average rating of “Buy” and a consensus price target of $55.14.
MasTec, Inc. (NYSE MTZ) traded down $0.50 during trading hours on Thursday, reaching $46.00. The company had a trading volume of 1,502,611 shares, compared to its average volume of 898,271. The stock has a market cap of $3,724.23, a price-to-earnings ratio of 14.95, a PEG ratio of 1.21 and a beta of 1.53. The company has a quick ratio of 1.66, a current ratio of 1.74 and a debt-to-equity ratio of 0.92. MasTec, Inc. has a one year low of $34.33 and a one year high of $49.50.
MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.73 by $0.09. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. analysts anticipate that MasTec, Inc. will post 2.65 earnings per share for the current fiscal year.
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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