MasTec, Inc. (MTZ) Position Decreased by Engineers Gate Manager LP
Engineers Gate Manager LP reduced its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 47.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,236 shares of the construction company’s stock after selling 17,550 shares during the quarter. Engineers Gate Manager LP’s holdings in MasTec were worth $893,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MasTec by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock valued at $100,000 after purchasing an additional 229 shares during the last quarter. SG Americas Securities LLC bought a new position in MasTec in the second quarter valued at about $102,000. Global X Management Co. LLC raised its position in MasTec by 220.7% in the second quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock valued at $118,000 after purchasing an additional 1,799 shares during the last quarter. Advisory Services Network LLC raised its position in MasTec by 13.1% in the second quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock valued at $167,000 after purchasing an additional 430 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in MasTec by 110.2% in the second quarter. D.A. Davidson & CO. now owns 3,800 shares of the construction company’s stock valued at $171,000 after purchasing an additional 1,992 shares during the last quarter. Institutional investors and hedge funds own 73.23% of the company’s stock.
MTZ has been the subject of several research reports. Zacks Investment Research downgraded MasTec from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 9th. Deutsche Bank upgraded 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. BidaskClub downgraded MasTec from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $55.50 target price on shares of MasTec in a research report on Saturday, August 19th. Finally, ValuEngine downgraded MasTec from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. MasTec presently has an average rating of “Buy” and a consensus price target of $55.05.
MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.09. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.66 billion. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. equities analysts forecast that MasTec, Inc. will post 2.65 earnings per share for the current year.
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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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