King Luther Capital Management Corp lowered its stake in shares of MasTec, Inc. (NYSE:MTZ) by 23.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,565 shares of the construction company’s stock after selling 19,640 shares during the period. King Luther Capital Management Corp owned 0.08% of MasTec worth $2,960,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of MTZ. BlackRock Inc. lifted its holdings in MasTec by 15,957.0% during the first quarter. BlackRock Inc. now owns 5,192,338 shares of the construction company’s stock worth $207,953,000 after buying an additional 5,160,001 shares during the period. Prudential Financial Inc. lifted its holdings in MasTec by 126.7% during the second quarter. Prudential Financial Inc. now owns 1,484,687 shares of the construction company’s stock worth $67,033,000 after buying an additional 829,650 shares during the period. Vanguard Group Inc. lifted its holdings in MasTec by 12.1% during the first quarter. Vanguard Group Inc. now owns 6,884,461 shares of the construction company’s stock worth $275,723,000 after buying an additional 743,879 shares during the period. Russell Investments Group Ltd. lifted its holdings in MasTec by 180.8% during the second quarter. Russell Investments Group Ltd. now owns 527,362 shares of the construction company’s stock worth $23,810,000 after buying an additional 339,573 shares during the period. Finally, 1060 Capital LLC lifted its holdings in MasTec by 81.1% during the second quarter. 1060 Capital LLC now owns 543,428 shares of the construction company’s stock worth $24,536,000 after buying an additional 243,428 shares during the period. Institutional investors own 70.62% of the company’s stock.
Shares of MasTec, Inc. (MTZ) opened at 43.85 on Friday. The firm’s 50-day moving average price is $41.70 and its 200 day moving average price is $42.52. The firm has a market capitalization of $3.55 billion, a P/E ratio of 15.46 and a beta of 1.44. MasTec, Inc. has a 12 month low of $27.10 and a 12 month high of $49.50.
MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the company earned $0.36 earnings per share. The business’s revenue was up 53.4% compared to the same quarter last year. Analysts anticipate that MasTec, Inc. will post $2.74 earnings per share for the current fiscal year.
A number of analysts have weighed in on MTZ shares. Vetr upgraded MasTec from a “buy” rating to a “strong-buy” rating and set a $45.42 target price for the company in a report on Thursday, May 25th. Deutsche Bank AG upgraded MasTec from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, September 12th. Zacks Investment Research upgraded MasTec from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, August 8th. ValuEngine lowered MasTec from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, FBR & Co increased their price objective on MasTec from $57.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. MasTec currently has an average rating of “Buy” and an average price target of $52.46.
In other news, Director C Robert Campbell sold 12,000 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total value of $540,000.00. Following the completion of the sale, the director now directly owns 67,082 shares of the company’s stock, valued at $3,018,690. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 20.30% of the stock is currently owned by corporate insiders.
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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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