Algert Global LLC Has $1,132,000 Stake in MasTec Inc. (MTZ)
Algert Global LLC boosted its stake in MasTec Inc. (NYSE:MTZ) by 10.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,069 shares of the company’s stock after buying an additional 3,740 shares during the period. Algert Global LLC’s holdings in MasTec were worth $1,132,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the company. Robecosam AG increased its stake in MasTec by 14.6% in the second quarter. Robecosam AG now owns 5,500 shares of the company’s stock valued at $119,000 after buying an additional 700 shares during the period. Tower Research Capital LLC TRC raised its position in shares of MasTec by 279.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,237 shares of the company’s stock valued at $139,000 after buying an additional 4,592 shares in the last quarter. BlackRock Inc. raised 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 valued at $153,000 after buying an additional 2,205 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of MasTec by 107.4% in the third quarter. BNP Paribas Arbitrage SA now owns 5,674 shares of the company’s stock valued at $169,000 after buying an additional 2,938 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new position in shares of MasTec during the second quarter valued at $194,000. 72.39% of the stock is currently owned by hedge funds and other institutional investors.
MasTec Inc. (NYSE:MTZ) opened at 29.15 on Friday. The firm’s 50-day moving average is $29.02 and its 200-day moving average is $25.03. MasTec Inc. has a 1-year low of $12.44 and a 1-year high of $31.15. The firm’s market capitalization is $2.34 billion.
MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates 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 negative net margin of 1.10% and a positive return on equity of 6.18%. MasTec’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. On average, equities analysts anticipate that MasTec Inc. will post $1.58 EPS for the current year.
Several brokerages have weighed in on MTZ. Robert W. Baird began coverage on shares of MasTec in a report on Thursday, August 25th. They set a “neutral” rating and a $16.00 price objective for the company. Maxim Group raised their price objective on shares of MasTec from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Citigroup Inc. raised their price objective on shares of MasTec from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Canaccord Genuity set a $33.00 price objective on shares of MasTec and gave the stock a “buy” rating in a report on Thursday, September 22nd. Finally, FBR & Co raised their price objective on shares of MasTec from $25.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, August 8th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus 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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