Oppenheimer Asset Management Inc. Acquires 6,908 Shares of MasTec, Inc. (MTZ)
Oppenheimer Asset Management Inc. grew its holdings in MasTec, Inc. (NYSE:MTZ) by 421.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,548 shares of the construction company’s stock after purchasing an additional 6,908 shares during the period. Oppenheimer Asset Management Inc.’s holdings in MasTec were worth $386,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MasTec by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock worth $100,000 after buying an additional 229 shares during the last quarter. SG Americas Securities LLC acquired a new position in MasTec during the second quarter worth $102,000. Envestnet Asset Management Inc. increased its holdings in MasTec by 7.9% during the first quarter. Envestnet Asset Management Inc. now owns 2,681 shares of the construction company’s stock worth $107,000 after buying an additional 197 shares during the last quarter. Global X Management Co. LLC increased its holdings in MasTec by 220.7% during the second quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock worth $118,000 after buying an additional 1,799 shares during the last quarter. Finally, Creative Planning increased its holdings in MasTec by 16.4% during the second quarter. Creative Planning now owns 2,685 shares of the construction company’s stock worth $121,000 after buying an additional 379 shares during the last quarter. Institutional investors own 70.62% of the company’s stock.
A number of equities analysts recently weighed in on MTZ shares. Vetr upgraded shares of MasTec from a “buy” rating to a “strong-buy” rating and set a $45.42 target price on the stock in a report on Thursday, May 25th. Deutsche Bank AG upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, September 12th. Zacks Investment Research upgraded shares of MasTec from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, August 8th. ValuEngine downgraded shares of MasTec from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, FBR & Co boosted their target price on shares of MasTec from $57.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $52.46.
MasTec, Inc. (MTZ) opened at 43.85 on Friday. The firm has a 50 day moving average of $41.70 and a 200 day moving average of $42.52. The firm has a market capitalization of $3.55 billion, a P/E ratio of 15.46 and a beta of 1.44. MasTec, Inc. has a 12-month low of $27.10 and a 12-month high of $49.50.
MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.34. MasTec had a return on equity of 21.80% and a net margin of 3.89%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the firm posted $0.36 EPS. The business’s revenue was up 53.4% compared to the same quarter last year. On average, analysts forecast that MasTec, Inc. will post $2.74 EPS for the current fiscal year.
In other news, Director C Robert Campbell sold 12,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $45.00, for a total transaction of $540,000.00. Following the completion of the sale, the director now directly owns 67,082 shares of the company’s stock, valued at approximately $3,018,690. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 20.30% of the company’s stock.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
Receive News & Ratings for MasTec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec Inc. and related companies with MarketBeat.com's FREE daily email newsletter.