Hancock Holding Co. Reduces Holdings in MasTec, Inc. (MTZ)

Hancock Holding Co. lessened its stake in MasTec, Inc. (NYSE:MTZ) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 310,175 shares of the construction company’s stock after selling 3,905 shares during the quarter. Hancock Holding Co. owned 0.37% of MasTec worth $14,004,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in MTZ. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MasTec by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock valued at $100,000 after buying an additional 229 shares during the period. SG Americas Securities LLC acquired a new position in MasTec in the 2nd quarter valued at approximately $102,000. Envestnet Asset Management Inc. increased its stake in MasTec by 7.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock valued at $107,000 after buying an additional 197 shares during the period. Global X Management Co. LLC increased its stake in MasTec by 220.7% in the 2nd quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock valued at $118,000 after buying an additional 1,799 shares during the period. Finally, Creative Planning increased its stake in MasTec by 16.4% in the 2nd quarter. Creative Planning now owns 2,685 shares of the construction company’s stock valued at $121,000 after buying an additional 379 shares during the period. Hedge funds and other institutional investors own 70.62% of the company’s stock.

In other news, Director C Robert Campbell sold 12,000 shares of MasTec stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $45.00, for a total value of $540,000.00. Following the sale, the director now directly owns 67,082 shares in the company, valued at $3,018,690. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 20.30% of the stock is owned by company insiders.

Several research firms have weighed in on MTZ. KeyCorp reiterated a “buy” rating and issued a $51.00 price objective on shares of MasTec in a research note on Tuesday, September 19th. Deutsche Bank AG upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, September 12th. ValuEngine lowered shares of MasTec from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub lowered shares of MasTec from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $55.50 price objective on shares of MasTec in a research note on Saturday, August 19th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $53.36.

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Shares of MasTec, Inc. (MTZ) traded up 0.44% on Friday, hitting $45.90. 799,959 shares of the stock traded hands. The firm’s 50 day moving average is $41.66 and its 200 day moving average is $42.63. MasTec, Inc. has a 52 week low of $27.10 and a 52 week high of $49.50. The firm has a market capitalization of $3.71 billion, a PE ratio of 16.18 and a beta of 1.44.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company earned $0.36 earnings per share. The firm’s revenue was up 53.4% compared to the same quarter last year. On average, analysts expect that MasTec, Inc. will post $2.74 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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