Fmr LLC Purchases 1,945,344 Shares of MasTec, Inc. (NYSE:MTZ)

FMR LLC raised its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 3,576.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,999,733 shares of the construction company’s stock after acquiring an additional 1,945,344 shares during the period. FMR LLC owned approximately 2.62% of MasTec worth $96,187,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Endurance Wealth Management Inc. acquired a new position in MasTec in the 1st quarter valued at approximately $29,000. Johnson Financial Group Inc. bought a new stake in shares of MasTec in the 4th quarter valued at approximately $53,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of MasTec in the 4th quarter valued at approximately $101,000. Brandywine Global Investment Management LLC bought a new stake in shares of MasTec in the 4th quarter valued at approximately $113,000. Finally, Pennsylvania Trust Co bought a new stake in shares of MasTec in the 1st quarter valued at approximately $312,000. 85.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE MTZ traded up $0.32 during mid-day trading on Friday, hitting $49.78. The company had a trading volume of 374,072 shares, compared to its average volume of 471,021. MasTec, Inc. has a one year low of $37.24 and a one year high of $53.80. The company has a quick ratio of 1.70, a current ratio of 1.79 and a debt-to-equity ratio of 1.18. The company has a market cap of $3.77 billion, a P/E ratio of 13.68, a PEG ratio of 1.40 and a beta of 1.48. The company has a 50-day moving average price of $49.76.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.19. MasTec had a net margin of 3.93% and a return on equity of 21.31%. The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that MasTec, Inc. will post 4.4 earnings per share for the current year.

In other MasTec news, Director Robert J. Dwyer sold 10,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $51.66, for a total transaction of $516,600.00. Following the sale, the director now owns 23,587 shares of the company’s stock, valued at $1,218,504.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 22.00% of the company’s stock.

MTZ has been the topic of a number of research analyst reports. ValuEngine lowered Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Zacks Investment Research lowered Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 9th. Barclays set a $330.00 price objective on Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Monday, July 15th. KeyCorp increased their price target on PGT Innovations from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Finally, UBS Group cut their price target on Mylan to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $60.44.

About MasTec

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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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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