Wells Fargo & Company MN Has $11,850,000 Stake in MasTec Inc. (MTZ)
Wells Fargo & Company MN increased its position in MasTec Inc. (NYSE:MTZ) by 5.4% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 398,444 shares of the company’s stock after buying an additional 20,485 shares during the period. Wells Fargo & Company MN owned about 0.50% of MasTec worth $11,850,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in MTZ. Capital Fund Management S.A. acquired a new position in MasTec during the third quarter valued at approximately $554,000. Prescott Group Capital Management L.L.C. acquired a new position in MasTec during the third quarter valued at approximately $416,000. Chicago Equity Partners LLC raised its position in MasTec by 160.2% in the third quarter. Chicago Equity Partners LLC now owns 90,330 shares of the company’s stock valued at $2,686,000 after buying an additional 55,615 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in MasTec by 2.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 15,885 shares of the company’s stock valued at $472,000 after buying an additional 310 shares during the last quarter. Finally, Insight Capital Research & Management Inc. acquired a new position in MasTec during the third quarter valued at approximately $5,170,000. 69.74% of the stock is owned by institutional investors.
Shares of MasTec Inc. (NYSE:MTZ) traded up 5.0613% on Wednesday, reaching $38.3999. The company had a trading volume of 478,828 shares. MasTec Inc. has a 52-week low of $12.44 and a 52-week high of $38.40. The company has a 50-day moving average price of $31.41 and a 200-day moving average price of $27.34. The firm has a market capitalization of $3.09 billion, a PE ratio of 3490.8999 and a beta of 1.22.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, November 3rd. The company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.12. The business earned $1.59 billion during the quarter, compared to analysts’ expectations of $1.50 billion. MasTec had a return on equity of 10.76% and a net margin of 0.02%. MasTec’s revenue was up 42.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. Equities research analysts forecast that MasTec Inc. will post $1.74 EPS for the current fiscal year.
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MTZ has been the subject of several analyst reports. FBR & Co reiterated a “buy” rating and issued a $37.00 target price on shares of MasTec in a research note on Monday, November 7th. Canaccord Genuity set a $33.00 target price on MasTec and gave the company a “buy” rating in a research note on Thursday, September 22nd. KeyCorp upped their target price on MasTec from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday. Maxim Group upped their target price on MasTec from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Finally, Citigroup Inc. upped their price target on MasTec from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $33.18.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline or fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure.
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