MasTec, Inc. (MTZ) Shares Sold by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. decreased its stake in shares of MasTec, Inc. (NYSE:MTZ) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,233 shares of the construction company’s stock after selling 678 shares during the period. PNC Financial Services Group Inc.’s holdings in MasTec were worth $1,636,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Amalgamated Bank lifted its position in MasTec by 5.5% during the second quarter. Amalgamated Bank now owns 8,564 shares of the construction company’s stock valued at $387,000 after purchasing an additional 447 shares during the period. Nationwide Fund Advisors lifted its position in MasTec by 7.3% during the second quarter. Nationwide Fund Advisors now owns 513,541 shares of the construction company’s stock valued at $23,186,000 after purchasing an additional 34,883 shares during the period. Ameriprise Financial Inc. lifted its position in MasTec by 6.0% during the second quarter. Ameriprise Financial Inc. now owns 789,428 shares of the construction company’s stock valued at $35,644,000 after purchasing an additional 44,808 shares during the period. Teachers Advisors LLC lifted its position in MasTec by 3.8% during the second quarter. Teachers Advisors LLC now owns 120,456 shares of the construction company’s stock valued at $5,439,000 after purchasing an additional 4,423 shares during the period. Finally, Fiera Capital Corp bought a new position in MasTec during the second quarter valued at approximately $9,788,000. Institutional investors own 70.62% of the company’s stock.
MTZ has been the topic of a number of research analyst reports. Vetr downgraded shares of MasTec from a “buy” rating to a “hold” rating and set a $47.14 price objective on the stock. in a research report on Monday, June 12th. Credit Suisse Group upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $46.00 to $55.00 in a research report on Monday, July 24th. ValuEngine upgraded shares of MasTec from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. FBR & Co increased their price objective on shares of MasTec from $57.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Finally, Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. MasTec has an average rating of “Buy” and an average target price of $53.36.
MasTec, Inc. (NYSE MTZ) opened at 46.05 on Thursday. MasTec, Inc. has a 52-week low of $27.10 and a 52-week high of $49.50. The firm has a 50-day moving average of $42.66 and a 200 day moving average of $43.13. The company has a market capitalization of $3.73 billion, a P/E ratio of 16.24 and a beta of 1.45.
MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.65 by $0.34. MasTec had a net margin of 3.89% and a return on equity of 21.80%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business posted $0.36 EPS. The business’s quarterly revenue was up 53.4% compared to the same quarter last year. Equities analysts predict that MasTec, Inc. will post $2.74 earnings per share for the current fiscal year.
WARNING: This article was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The original version of this article can be accessed at https://www.thecerbatgem.com/2017/10/05/mastec-inc-mtz-shares-sold-by-pnc-financial-services-group-inc.html.
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.
Receive News & Stock Ratings for MasTec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec Inc. and related stocks with our FREE daily email newsletter.