MasTec, Inc. (MTZ) Stake Boosted by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its stake in MasTec, Inc. (NYSE:MTZ) by 1.4% during the 3rd quarter, Holdings Channel reports. The fund owned 784,988 shares of the construction company’s stock after purchasing an additional 10,570 shares during the quarter. Sterling Capital Management LLC’s holdings in MasTec were worth $35,050,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MTZ. Amalgamated Bank lifted its holdings in MasTec by 11.5% during the 2nd quarter. Amalgamated Bank now owns 9,926 shares of the construction company’s stock worth $504,000 after buying an additional 1,024 shares in the last quarter. Sheets Smith Wealth Management lifted its holdings in MasTec by 13.1% during the 2nd quarter. Sheets Smith Wealth Management now owns 9,306 shares of the construction company’s stock worth $472,000 after buying an additional 1,080 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in MasTec by 79.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,775 shares of the construction company’s stock worth $141,000 after buying an additional 1,225 shares in the last quarter. Profit Investment Management LLC lifted its holdings in MasTec by 2.6% during the 3rd quarter. Profit Investment Management LLC now owns 51,101 shares of the construction company’s stock worth $161,000 after buying an additional 1,304 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in MasTec by 11.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 14,694 shares of the construction company’s stock worth $746,000 after buying an additional 1,498 shares in the last quarter. Hedge funds and other institutional investors own 83.30% of the company’s stock.

Shares of NYSE:MTZ opened at $47.73 on Friday. MasTec, Inc. has a 52 week low of $39.83 and a 52 week high of $55.53. The company has a current ratio of 1.82, a quick ratio of 1.74 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.54 and a beta of 1.43.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, November 1st. The construction company reported $1.33 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.13. MasTec had a net margin of 5.05% and a return on equity of 14.84%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the firm posted $0.82 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, research analysts forecast that MasTec, Inc. will post 3.53 earnings per share for the current year.

MTZ has been the topic of a number of research reports. ValuEngine lowered shares of MasTec from a “hold” rating to a “sell” rating in a report on Friday, August 24th. Robert W. Baird upgraded shares of MasTec from a “neutral” rating to an “outperform” rating and set a $51.00 target price on the stock in a report on Tuesday, August 7th. Citigroup reiterated a “buy” rating on shares of MasTec in a report on Thursday, August 30th. Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, August 8th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $65.00 target price on shares of MasTec in a report on Friday, August 3rd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $60.64.

About MasTec

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility 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.

Featured Article: What Does Beta Mean In Stock Selection

Want to see what other hedge funds are holding MTZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MasTec, Inc. (NYSE:MTZ).

Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply