Comerica Bank Acquires 88 Shares of MasTec, Inc. (MTZ)
Comerica Bank boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,639 shares of the construction company’s stock after buying an additional 88 shares during the period. Comerica Bank’s holdings in MasTec were worth $1,295,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in MasTec by 19.8% during the second quarter. Bank of New York Mellon Corp now owns 323,240 shares of the construction company’s stock worth $14,595,000 after buying an additional 53,416 shares in the last quarter. SG Americas Securities LLC acquired a new stake in MasTec during the second quarter worth $102,000. Dupont Capital Management Corp acquired a new stake in MasTec during the second quarter worth $362,000. Advisors Asset Management Inc. boosted its stake in MasTec by 9.8% during the second quarter. Advisors Asset Management Inc. now owns 89,041 shares of the construction company’s stock worth $4,020,000 after buying an additional 7,946 shares in the last quarter. Finally, ClariVest Asset Management LLC acquired a new stake in MasTec during the second quarter worth $1,523,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.
In related news, Director C Robert Campbell sold 12,000 shares of the firm’s 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 transaction, the director now owns 67,082 shares in the company, valued at $3,018,690. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.30% of the stock is currently owned by company insiders.
A number of equities research analysts have weighed in on the stock. Vetr downgraded shares of MasTec from a “buy” rating to a “hold” rating and set a $45.42 price target on the stock. in a research note on Monday, June 5th. ValuEngine upgraded shares of MasTec from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 4th. Citigroup Inc. upgraded shares of MasTec from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Friday, August 18th. Credit Suisse Group upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $46.00 to $55.00 in a research note on Monday, July 24th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $55.00 price target on shares of MasTec in a research note on Tuesday, August 15th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $52.46.
Shares of MasTec, Inc. (NYSE:MTZ) opened at 43.85 on Friday. The stock has a 50 day moving average of $41.70 and a 200 day moving average of $42.52. MasTec, Inc. has a 52 week low of $27.10 and a 52 week high of $49.50. The firm has a market cap of $3.55 billion, a P/E ratio of 15.46 and a beta of 1.44.
MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business earned $0.36 earnings per share. MasTec’s revenue was up 53.4% on a year-over-year basis. Analysts anticipate that MasTec, Inc. will post $2.74 earnings per share for the current fiscal year.
MasTec Company Profile
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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