Woodmont Investment Counsel LLC raised its position in shares of MasTec, Inc. (NYSE:MTZ) by 29.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,002 shares of the construction company’s stock after purchasing an additional 1,600 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in MasTec were worth $361,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in MTZ. Weaver Consulting Group acquired a new stake in MasTec in the first quarter valued at $25,000. C M Bidwell & Associates Ltd. bought a new position in shares of MasTec during the second quarter worth approximately $45,000. NumerixS Investment Technologies Inc bought a new position in shares of MasTec during the second quarter worth approximately $70,000. Advisory Services Network LLC increased its holdings in shares of MasTec by 56.2% during the second quarter. Advisory Services Network LLC now owns 2,109 shares of the construction company’s stock worth $109,000 after purchasing an additional 759 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of MasTec by 7.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,307 shares of the construction company’s stock worth $119,000 after purchasing an additional 168 shares during the period. Hedge funds and other institutional investors own 82.34% of the company’s stock.
MTZ has been the topic of a number of research reports. B. Riley boosted their target price on shares of MasTec from $62.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Credit Suisse Group lifted their price target on shares of MasTec from $62.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. ValuEngine raised shares of MasTec from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Deutsche Bank boosted their target price on shares of MasTec from $60.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Canaccord Genuity boosted their target price on shares of MasTec from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $66.08.
MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.51. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.80 billion. MasTec had a net margin of 4.29% and a return on equity of 23.43%. MasTec’s revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $1.04 EPS. Equities research analysts anticipate that MasTec, Inc. will post 4.9 EPS for the current year.
In other MasTec news, Director C Robert Campbell sold 5,000 shares of MasTec stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $57.72, for a total transaction of $288,600.00. Following the transaction, the director now owns 67,001 shares of the company’s stock, valued at $3,867,297.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ernst N. Csiszar sold 3,000 shares of MasTec stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $64.53, for a total transaction of $193,590.00. Following the transaction, the director now directly owns 25,564 shares in the company, valued at approximately $1,649,644.92. The disclosure for this sale can be found here. Insiders sold 33,000 shares of company stock valued at $1,983,440 over the last quarter. Company insiders own 22.00% of the company’s stock.
MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.
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