Allianz Asset Management GmbH reduced its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 313,012 shares of the construction company’s stock after selling 5,175 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.38% of MasTec worth $14,524,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in MasTec by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after buying an additional 229 shares during the last quarter. SG Americas Securities LLC purchased a new stake in MasTec in the second quarter worth $102,000. 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 worth $118,000 after buying an additional 1,799 shares during the last quarter. Advisory Services Network LLC increased its position in MasTec by 13.1% in the second quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock worth $167,000 after buying an additional 430 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in MasTec by 110.2% in the second quarter. D.A. Davidson & CO. now owns 3,800 shares of the construction company’s stock worth $171,000 after buying an additional 1,992 shares during the last quarter. Institutional investors and hedge funds own 73.23% of the company’s stock.
A number of research firms have issued reports on MTZ. Citigroup raised 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. Barclays began coverage on MasTec in a research report on Tuesday. They issued an “overweight” rating and a $54.00 target price for the company. Robert W. Baird raised MasTec from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $51.00 to $53.00 in a research report on Monday, November 6th. KeyCorp reissued a “buy” rating and issued a $51.00 target price on shares of MasTec in a research report on Tuesday, September 19th. Finally, ValuEngine downgraded MasTec from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. MasTec presently has an average rating of “Buy” and a consensus price target of $55.05.
Shares of MasTec, Inc. (NYSE:MTZ) traded up $0.05 during midday trading on Thursday, hitting $46.65. The stock had a trading volume of 1,006,700 shares, compared to its average volume of 900,290. The stock has a market capitalization of $3,860.00, a PE ratio of 15.48, a PEG ratio of 1.26 and a beta of 1.53. MasTec, Inc. has a one year low of $34.33 and a one year high of $49.50. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.66 and a current ratio of 1.74.
MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.09. The company had revenue of $1.96 billion during 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 firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. analysts predict that MasTec, Inc. will post 2.65 EPS 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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