Oppenheimer & Co. Inc. acquired a new stake in MasTec, Inc. (NYSE:MTZ – Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,253 shares of the construction company’s stock, valued at approximately $402,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Private Advisor Group LLC acquired a new position in MasTec in the first quarter valued at about $836,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of MasTec during the first quarter worth approximately $217,000. Pier Capital LLC increased its stake in shares of MasTec by 4.2% during the first quarter. Pier Capital LLC now owns 96,510 shares of the construction company’s stock worth $9,114,000 after purchasing an additional 3,872 shares during the period. Spouting Rock Asset Management LLC acquired a new stake in MasTec during the first quarter worth approximately $363,000. Finally, Pictet Asset Management SA grew its position in MasTec by 14.4% during the first quarter. Pictet Asset Management SA now owns 8,014 shares of the construction company’s stock worth $757,000 after buying an additional 1,008 shares in the last quarter. 72.90% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on MTZ shares. TD Cowen reduced their price target on MasTec from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, August 7th. Credit Suisse Group raised their price objective on MasTec from $118.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Craig Hallum lowered MasTec from a “buy” rating to a “hold” rating and lowered their target price for the stock from $113.00 to $98.00 in a research report on Monday, August 7th. DA Davidson lifted their price objective on MasTec from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Finally, B. Riley reduced their target price on MasTec from $138.00 to $129.00 in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $118.91.
MasTec Trading Up 2.0 %
NYSE:MTZ opened at $100.75 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.51 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $7.95 billion, a PE ratio of -629.69 and a beta of 1.40. The firm’s 50 day moving average is $109.00 and its 200 day moving average is $100.08. MasTec, Inc. has a 12 month low of $62.36 and a 12 month high of $123.33.
MasTec (NYSE:MTZ – Get Free Report) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. MasTec had a negative net margin of 0.12% and a positive return on equity of 6.93%. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Sell-side analysts expect that MasTec, Inc. will post 3.85 earnings per share for the current year.
MasTec Company Profile
MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.
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