Point72 Asset Management L.P. boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 112.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 690,800 shares of the construction company’s stock after buying an additional 365,400 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.83% of MasTec worth $32,053,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MasTec by 11.5% during the second 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 purchased a new position in MasTec during the second quarter valued at approximately $102,000. Global X Management Co. LLC increased its holdings in MasTec by 220.7% during the second 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. Creative Planning increased its holdings in MasTec by 16.4% during the second 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. Finally, Advisory Services Network LLC increased its holdings in MasTec by 13.1% during the second quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock valued at $167,000 after buying an additional 430 shares during the period. 73.23% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on MTZ shares. Barclays started coverage on shares of MasTec in a report on Tuesday. They issued an “overweight” rating and a $54.00 price target on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $55.00 price target on shares of MasTec in a report on Tuesday, August 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $55.50 price target on shares of MasTec in a report on Saturday, August 19th. KeyCorp reaffirmed a “buy” rating and issued a $51.00 price target on shares of MasTec in a report on Tuesday, September 19th. Finally, ValuEngine lowered shares of MasTec from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $55.05.
MasTec, Inc. (NYSE:MTZ) traded down $0.25 during midday trading on Wednesday, reaching $46.60. 701,100 shares of the company’s stock traded hands, compared to its average volume of 899,844. The company has a quick ratio of 1.66, a current ratio of 1.74 and a debt-to-equity ratio of 0.92. MasTec, Inc. has a fifty-two week low of $34.33 and a fifty-two week high of $49.50. The stock has a market capitalization of $3,877.33, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.26 and a beta of 1.53.
MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.09. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.66 billion. MasTec had a net margin of 3.78% and a return on equity of 20.67%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 earnings per share. analysts forecast that MasTec, Inc. will post 2.65 EPS for the current year.
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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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