BNP Paribas Arbitrage SA Has $2.48 Million Position in MasTec, Inc. (MTZ)
BNP Paribas Arbitrage SA boosted its position in shares of MasTec, Inc. (NYSE:MTZ) by 29.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,836 shares of the construction company’s stock after buying an additional 12,345 shares during the period. BNP Paribas Arbitrage SA owned 0.07% of MasTec worth $2,476,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of MTZ. Three Peaks Capital Management LLC purchased a new stake in MasTec during the first quarter worth about $2,759,000. UBS Asset Management Americas Inc. raised its stake in MasTec by 0.3% in the first quarter. UBS Asset Management Americas Inc. now owns 44,275 shares of the construction company’s stock worth $1,773,000 after buying an additional 146 shares in the last quarter. Comerica Bank purchased a new stake in MasTec during the first quarter worth about $1,236,000. US Bancorp DE raised its stake in MasTec by 0.3% in the first quarter. US Bancorp DE now owns 44,625 shares of the construction company’s stock worth $1,788,000 after buying an additional 123 shares in the last quarter. Finally, Tygh Capital Management Inc. raised its stake in MasTec by 30.2% in the first quarter. Tygh Capital Management Inc. now owns 214,567 shares of the construction company’s stock worth $8,593,000 after buying an additional 49,818 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.
Shares of MasTec, Inc. (NYSE MTZ) opened at 40.45 on Wednesday. The stock’s 50 day moving average is $43.62 and its 200-day moving average is $42.24. MasTec, Inc. has a 52-week low of $26.75 and a 52-week high of $49.50. The firm has a market cap of $3.27 billion, a P/E ratio of 14.26 and a beta of 1.44.
MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.34. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.50 billion. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The company’s quarterly revenue was up 53.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 EPS. Equities analysts anticipate that MasTec, Inc. will post $2.74 earnings per share for the current fiscal year.
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A number of research firms have recently issued reports on MTZ. Deutsche Bank AG lifted their price objective on shares of MasTec from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, May 8th. FBR & Co reiterated an “outperform” rating and set a $57.00 price objective (up previously from $50.00) on shares of MasTec in a research note on Monday, May 8th. Canaccord Genuity reiterated a “buy” rating and set a $52.00 price objective on shares of MasTec in a research note on Friday, May 5th. DA Davidson lifted their price objective on shares of MasTec from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, May 8th. Finally, Vetr lowered shares of MasTec from a “buy” rating to a “hold” rating and set a $47.14 price objective on the stock. in a research note on Monday, June 12th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $52.46.
In other MasTec news, Director C Robert Campbell sold 12,000 shares of MasTec stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total value of $540,000.00. Following the completion of the transaction, the director now directly owns 67,082 shares of the company’s stock, valued at approximately $3,018,690. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jose S. Sorzano sold 2,391 shares of MasTec stock in a transaction on Friday, June 9th. The shares were sold at an average price of $45.56, for a total value of $108,933.96. Following the completion of the transaction, the director now directly owns 37,545 shares of the company’s stock, valued at $1,710,550.20. The disclosure for this sale can be found here. 20.30% of the stock is owned by insiders.
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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