Corbyn Investment Management Inc. MD trimmed its position in MasTec, Inc. (NYSE:MTZ) by 42.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 246,677 shares of the construction company’s stock after selling 183,433 shares during the quarter. MasTec comprises 3.6% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 6th largest position. Corbyn Investment Management Inc. MD owned approximately 0.30% of MasTec worth $11,446,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Sei Investments Co. grew its holdings in MasTec by 32.4% during the third quarter. Sei Investments Co. now owns 175,651 shares of the construction company’s stock worth $8,150,000 after acquiring an additional 42,973 shares during the period. Pax World Management LLC acquired a new stake in MasTec during the third quarter worth about $1,748,000. Daiwa Securities Group Inc. grew its holdings in MasTec by 9.3% during the third quarter. Daiwa Securities Group Inc. now owns 387,700 shares of the construction company’s stock worth $17,989,000 after acquiring an additional 33,000 shares during the period. Stoneridge Investment Partners LLC acquired a new stake in MasTec during the third quarter worth about $263,000. Finally, Tygh Capital Management Inc. grew its holdings in MasTec by 7.4% during the third quarter. Tygh Capital Management Inc. now owns 315,614 shares of the construction company’s stock worth $14,644,000 after acquiring an additional 21,698 shares during the period. Hedge funds and other institutional investors own 73.23% of the company’s stock.
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MasTec, Inc. (MTZ) traded up $0.35 during trading hours on Monday, hitting $40.60. The stock had a trading volume of 858,600 shares, compared to its average volume of 885,676. The firm has a market cap of $3,360.00, a PE ratio of 13.49, a P/E/G ratio of 1.09 and a beta of 1.54. MasTec, Inc. has a twelve month low of $34.20 and a twelve month high of $49.50. The company has a current ratio of 1.74, a quick ratio of 1.66 and a debt-to-equity ratio of 0.92.
MasTec (NYSE:MTZ) last posted its earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.09. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.81 EPS. research analysts forecast that MasTec, Inc. will post 2.65 EPS for the current fiscal year.
Several analysts have commented on the company. ValuEngine lowered MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. B. Riley reaffirmed a “buy” rating and issued a $67.00 price target (up from $66.00) on shares of MasTec in a research note on Tuesday, November 7th. Credit Suisse Group lifted their price target on MasTec from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. Robert W. Baird raised MasTec from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $51.00 to $53.00 in a research note on Monday, November 6th. Finally, Citigroup Inc. set a $54.00 price target on MasTec and gave the stock a “buy” rating in a research note on Friday, October 27th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $55.14.
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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