MasTec, Inc. (MTZ) Stake Decreased by Virtu KCG Holdings LLC
Virtu KCG Holdings LLC decreased its holdings in MasTec, Inc. (NYSE:MTZ) by 43.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,950 shares of the construction company’s stock after selling 4,655 shares during the quarter. Virtu KCG Holdings LLC’s holdings in MasTec were worth $269,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MasTec by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after purchasing an additional 229 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of MasTec in the 2nd quarter worth $102,000. Envestnet Asset Management Inc. boosted its position in shares of MasTec by 7.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock worth $107,000 after purchasing an additional 197 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of MasTec by 220.7% in the 2nd quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock worth $118,000 after purchasing an additional 1,799 shares in the last quarter. Finally, Creative Planning boosted its position in shares of MasTec by 16.4% in the 2nd quarter. Creative Planning now owns 2,685 shares of the construction company’s stock worth $121,000 after purchasing an additional 379 shares in the last quarter. 70.62% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on MTZ shares. Zacks Investment Research cut MasTec from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 9th. Deutsche Bank AG raised MasTec from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, September 12th. BidaskClub cut MasTec from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $55.50 price target on shares of MasTec in a research report on Saturday, August 19th. Finally, ValuEngine raised MasTec from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $53.36.
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Shares of MasTec, Inc. (MTZ) opened at 42.90 on Friday. The firm’s 50-day moving average price is $44.07 and its 200-day moving average price is $43.55. MasTec, Inc. has a 12 month low of $27.10 and a 12 month high of $49.50. The firm has a market cap of $3.47 billion, a PE ratio of 15.13 and a beta of 1.45.
MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.99 earnings per share (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 company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. MasTec’s revenue for the quarter was up 53.4% on a year-over-year basis. Analysts expect that MasTec, Inc. will post $2.74 earnings per share for the current year.
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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