Nationwide Fund Advisors decreased its position in MasTec Inc. (NYSE:MTZ) by 14.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 86,786 shares of the company’s stock after selling 14,689 shares during the period. Nationwide Fund Advisors owned about 0.11% of MasTec worth $1,937,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of MTZ. TIAA CREF Investment Management LLC increased its position in MasTec by 18.0% in the first quarter. TIAA CREF Investment Management LLC now owns 275,051 shares of the company’s stock worth $5,567,000 after buying an additional 41,880 shares in the last quarter. BlackRock Inc. increased its position in shares of MasTec by 41.5% in the first quarter. BlackRock Inc. now owns 7,520 shares of the company’s stock worth $153,000 after buying an additional 2,205 shares during the period. BlackRock Group LTD increased its position in shares of MasTec by 27.4% in the first quarter. BlackRock Group LTD now owns 41,648 shares of the company’s stock worth $843,000 after buying an additional 8,954 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of MasTec by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,611,808 shares of the company’s stock worth $32,623,000 after buying an additional 24,673 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of MasTec by 25,322.9% in the first quarter. JPMorgan Chase & Co. now owns 131,182 shares of the company’s stock worth $2,655,000 after buying an additional 130,666 shares during the period. 72.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MasTec Inc. (NYSE:MTZ) traded up 1.54% during midday trading on Friday, hitting $29.70. The stock had a trading volume of 34,469 shares. The stock’s 50 day moving average price is $29.05 and its 200 day moving average price is $24.97. MasTec Inc. has a 12 month low of $12.44 and a 12 month high of $31.15. The firm’s market cap is $2.39 billion.
MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.14. The company earned $1.23 billion during 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 firm earned $0.10 earnings per share. On average, equities analysts forecast that MasTec Inc. will post $1.58 EPS for the current fiscal year.
MTZ has been the topic of a number of research analyst reports. Canaccord Genuity set a $33.00 price target on shares of MasTec and gave the stock a “buy” rating in a report on Thursday, September 22nd. Robert W. Baird initiated coverage on shares of MasTec in a report on Thursday, August 25th. They issued a “neutral” rating and a $16.00 price target on the stock. Zacks Investment Research raised shares of MasTec from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a report on Wednesday, July 27th. Citigroup Inc. boosted their price target on shares of MasTec from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Finally, Wunderlich boosted their price target on shares of MasTec from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of C$27.55.
MasTec Company Profile
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.