Tygh Capital Management Inc. Acquires 21,698 Shares of MasTec, Inc. (MTZ)
Tygh Capital Management Inc. raised its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 7.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 315,614 shares of the construction company’s stock after acquiring an additional 21,698 shares during the quarter. MasTec comprises approximately 2.9% of Tygh Capital Management Inc.’s portfolio, making the stock its biggest holding. Tygh Capital Management Inc. owned approximately 0.38% of MasTec worth $14,644,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Teacher Retirement System of Texas increased its holdings in shares of MasTec by 0.6% in the second quarter. Teacher Retirement System of Texas now owns 5,310 shares of the construction company’s stock worth $240,000 after purchasing an additional 30 shares during the period. Comerica Bank increased its holdings in shares of MasTec by 0.3% in the second quarter. Comerica Bank now owns 27,639 shares of the construction company’s stock worth $1,295,000 after purchasing an additional 88 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of MasTec by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 53,067 shares of the construction company’s stock worth $2,396,000 after purchasing an additional 139 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of 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 purchasing an additional 146 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of MasTec by 11.5% in the second 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 during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.
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MasTec, Inc. (MTZ) traded up $2.10 during midday trading on Tuesday, reaching $44.95. 1,519,634 shares of the company’s stock traded hands, compared to its average volume of 1,030,000. The company has a current ratio of 1.74, a quick ratio of 1.66 and a debt-to-equity ratio of 0.92. MasTec, Inc. has a twelve month low of $28.55 and a twelve month high of $49.50. The stock has a market capitalization of $3,660.00, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 1.19 and a beta of 1.54.
MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.09. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.66 billion. MasTec had a net margin of 3.78% and a return on equity of 20.67%. The company’s revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. equities analysts expect that MasTec, Inc. will post 2.57 earnings per share for the current year.
Several research analysts recently issued reports on the stock. Robert W. Baird upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $51.00 to $53.00 in a research report on Monday. Zacks Investment Research lowered shares of MasTec from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 9th. Deutsche Bank AG upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, September 12th. Credit Suisse Group upped their target price on shares of MasTec from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, ValuEngine lowered shares of MasTec from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $54.06.
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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