UBS Asset Management Americas Inc. continued to hold its stake in shares of MasTec Inc. (NYSE:MTZ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,687 shares of the company’s stock at the end of the second quarter. UBS Asset Management Americas Inc. owned about 0.07% of MasTec worth $1,199,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of MTZ. HBK Investments L P bought a new position in shares of MasTec during the first quarter worth approximately $880,000. Goldman Sachs Group Inc. increased its position in shares of MasTec by 43.8% in the first quarter. Goldman Sachs Group Inc. now owns 222,941 shares of the company’s stock worth $4,513,000 after buying an additional 67,958 shares in the last quarter. UBS Group AG increased its position in shares of MasTec by 50.2% in the first quarter. UBS Group AG now owns 26,422 shares of the company’s stock worth $534,000 after buying an additional 8,834 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of MasTec by 46.8% in the first quarter. Canada Pension Plan Investment Board now owns 840,900 shares of the company’s stock worth $17,020,000 after buying an additional 268,200 shares in the last quarter. Finally, Credit Agricole S A increased its position in shares of MasTec by 1,483.1% in the first quarter. Credit Agricole S A now owns 252,500 shares of the company’s stock worth $5,111,000 after buying an additional 236,550 shares in the last quarter. Institutional investors own 72.39% of the company’s stock.
MasTec Inc. (NYSE:MTZ) traded down 0.34% during midday trading on Friday, hitting $29.15. The stock had a trading volume of 225,055 shares. The company has a 50-day moving average price of $29.02 and a 200-day moving average price of $25.03. MasTec Inc. has a 12-month low of $12.44 and a 12-month high of $31.15. The company’s market cap is $2.34 billion.
MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 4th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.22 by $0.14. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.16 billion. MasTec had a positive return on equity of 6.18% and a negative net margin of 1.10%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the business posted $0.10 EPS. Equities analysts anticipate that MasTec Inc. will post $1.58 EPS for the current year.
A number of equities analysts have recently commented on MTZ shares. Wunderlich boosted their price objective on MasTec from $28.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Canaccord Genuity set a $33.00 price objective on MasTec and gave the stock a “buy” rating in a research report on Saturday, August 6th. Maxim Group boosted their price objective on MasTec from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Zacks Investment Research downgraded MasTec from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, Robert W. Baird began coverage on MasTec in a research report on Thursday, August 25th. They set a “neutral” rating and a $16.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of C$27.80.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline or fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure.
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