King Luther Capital Management Corp trimmed its holdings in shares of MasTec (NYSE:MTZ) by 7.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,215 shares of the construction company’s stock after selling 4,225 shares during the period. King Luther Capital Management Corp owned about 0.06% of MasTec worth $2,363,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of MTZ. Schwab Charles Investment Management Inc. boosted its stake in shares of MasTec by 4.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 528,158 shares of the construction company’s stock worth $25,854,000 after buying an additional 21,534 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in MasTec in the 4th quarter valued at about $146,000. Bowling Portfolio Management LLC lifted its stake in MasTec by 199.0% in the 4th quarter. Bowling Portfolio Management LLC now owns 44,129 shares of the construction company’s stock valued at $2,160,000 after purchasing an additional 29,371 shares during the last quarter. Rice Hall James & Associates LLC acquired a new stake in MasTec in the 4th quarter valued at about $6,729,000. Finally, FNY Partners Fund LP acquired a new stake in MasTec in the 4th quarter valued at about $122,000. Institutional investors own 82.27% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Robert W. Baird cut their target price on shares of MasTec from $55.00 to $51.00 and set a “hold” rating for the company in a research note on Tuesday, May 1st. Credit Suisse Group cut their target price on shares of MasTec from $70.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, May 2nd. B. Riley raised their target price on shares of MasTec from $70.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, March 1st. ValuEngine downgraded shares of MasTec from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $65.00 target price on shares of MasTec in a research note on Thursday, March 1st. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. MasTec has an average rating of “Buy” and a consensus price target of $60.15.
MasTec stock opened at $49.35 on Friday. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 0.99 and a beta of 1.57. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 0.98. MasTec has a twelve month low of $38.40 and a twelve month high of $55.53.
MasTec (NYSE:MTZ) last released its quarterly earnings results on Monday, April 30th. The construction company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.14. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.24 billion. MasTec had a net margin of 4.86% and a return on equity of 15.48%. The business’s revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. equities analysts forecast that MasTec will post 3.56 earnings per share for the current fiscal year.
In other MasTec news, Director Julia L. Johnson sold 29,607 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $51.11, for a total value of $1,513,213.77. Following the transaction, the director now directly owns 72,921 shares of the company’s stock, valued at approximately $3,726,992.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Cardenas Alberto De sold 15,000 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $49.55, for a total transaction of $743,250.00. Following the completion of the transaction, the executive vice president now directly owns 110,502 shares in the company, valued at $5,475,374.10. The disclosure for this sale can be found here. 20.10% of the stock is owned by corporate insiders.
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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