BlueCrest Capital Management Ltd Takes $2.57 Million Position in MasTec, Inc. (MTZ)

BlueCrest Capital Management Ltd purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 56,995 shares of the construction company’s stock, valued at approximately $2,573,000. BlueCrest Capital Management Ltd owned approximately 0.07% of MasTec at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of MasTec by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after acquiring an additional 229 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of MasTec during the second quarter worth about $102,000. Global X Management Co. LLC raised its position in shares of MasTec by 220.7% during the second quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock worth $118,000 after acquiring an additional 1,799 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of MasTec by 7.9% during the first quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock worth $107,000 after acquiring an additional 197 shares during the last quarter. Finally, Creative Planning raised its position in shares of MasTec by 16.4% during the second quarter. Creative Planning now owns 2,685 shares of the construction company’s stock worth $121,000 after acquiring an additional 379 shares during the last quarter. 70.62% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on the company. Citigroup Inc. upgraded MasTec from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Friday, August 18th. Credit Suisse Group upgraded MasTec from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $46.00 to $55.00 in a research report on Monday, July 24th. KeyCorp restated a “buy” rating and set a $51.00 price objective on shares of MasTec in a research report on Tuesday, September 19th. ValuEngine downgraded MasTec from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, FBR & Co lifted their target price on MasTec from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. MasTec currently has a consensus rating of “Buy” and an average target price of $53.36.

WARNING: “BlueCrest Capital Management Ltd Takes $2.57 Million Position in MasTec, Inc. (MTZ)” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another site, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The correct version of this piece of content can be read at https://ledgergazette.com/2017/10/11/bluecrest-capital-management-ltd-takes-2-57-million-position-in-mastec-inc-mtz.html.

Shares of MasTec, Inc. (NYSE:MTZ) opened at 44.10 on Wednesday. The stock’s 50 day moving average price is $43.36 and its 200 day moving average price is $43.38. The company has a market cap of $3.57 billion, a P/E ratio of 15.55 and a beta of 1.45. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company earned $0.36 EPS.

Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of MasTec by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after acquiring an additional 229 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of MasTec during the second quarter worth about $102,000. Global X Management Co. LLC raised its position in shares of MasTec by 220.7% during the second quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock worth $118,000 after acquiring an additional 1,799 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of MasTec by 7.9% during the first quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock worth $107,000 after acquiring an additional 197 shares during the last quarter. Finally, Creative Planning raised its position in shares of MasTec by 16.4% during the second quarter. Creative Planning now owns 2,685 shares of the construction company’s stock worth $121,000 after acquiring an additional 379 shares during the last quarter. 70.62% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on the company. Citigroup Inc. upgraded MasTec from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Friday, August 18th. Credit Suisse Group upgraded MasTec from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $46.00 to $55.00 in a research report on Monday, July 24th. KeyCorp restated a “buy” rating and set a $51.00 price objective on shares of MasTec in a research report on Tuesday, September 19th. ValuEngine downgraded MasTec from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, FBR & Co lifted their target price on MasTec from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. MasTec currently has a consensus rating of “Buy” and an average target price of $53.36.

WARNING: “BlueCrest Capital Management Ltd Takes $2.57 Million Position in MasTec, Inc. (MTZ)” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another site, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The correct version of this piece of content can be read at https://ledgergazette.com/2017/10/11/bluecrest-capital-management-ltd-takes-2-57-million-position-in-mastec-inc-mtz.html.

Shares of MasTec, Inc. (NYSE:MTZ) opened at 44.10 on Wednesday. The stock’s 50 day moving average price is $43.36 and its 200 day moving average price is $43.38. The company has a market cap of $3.57 billion, a P/E ratio of 15.55 and a beta of 1.45. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company earned $0.36 EPS. The business’s revenue was up 53.4% compared to the same quarter last year. On average, analysts forecast that MasTec, Inc. will post $2.74 EPS for the current 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.

Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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