OppenheimerFunds Inc. Sells 378,892 Shares of MasTec, Inc. (MTZ)
OppenheimerFunds Inc. reduced its position in MasTec, Inc. (NYSE:MTZ) by 40.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 548,230 shares of the construction company’s stock after selling 378,892 shares during the quarter. OppenheimerFunds Inc.’s holdings in MasTec were worth $26,835,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. increased its stake in MasTec by 1.6% in the 4th quarter. BlackRock Inc. now owns 4,824,757 shares of the construction company’s stock valued at $236,171,000 after buying an additional 75,133 shares during the period. Macquarie Group Ltd. increased its stake in MasTec by 15.3% in the 3rd quarter. Macquarie Group Ltd. now owns 3,046,860 shares of the construction company’s stock valued at $141,374,000 after buying an additional 404,076 shares during the period. Wells Fargo & Company MN increased its stake in MasTec by 47.3% in the 4th quarter. Wells Fargo & Company MN now owns 1,186,072 shares of the construction company’s stock valued at $58,058,000 after buying an additional 380,880 shares during the period. Rothschild Asset Management Inc. increased its stake in MasTec by 18.5% in the 3rd quarter. Rothschild Asset Management Inc. now owns 943,843 shares of the construction company’s stock valued at $43,794,000 after buying an additional 147,017 shares during the period. Finally, 1060 Capital LLC increased its stake in MasTec by 73.0% in the 3rd quarter. 1060 Capital LLC now owns 940,275 shares of the construction company’s stock valued at $43,629,000 after buying an additional 396,847 shares during the period. 74.36% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on MTZ shares. Zacks Investment Research raised shares of MasTec from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a research note on Friday, January 19th. Credit Suisse Group reaffirmed an “outperform” rating and set a $69.00 price target (up from $58.00) on shares of MasTec in a research note on Thursday, January 18th. Robert W. Baird raised shares of MasTec from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $51.00 to $53.00 in a research note on Monday, November 6th. Craig Hallum upped their price target on shares of MasTec from $57.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, January 2nd. Finally, ValuEngine cut shares of MasTec from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $61.01.
Shares of MasTec, Inc. (NYSE MTZ) opened at $49.25 on Friday. The company has a market cap of $4,080.00, a PE ratio of 17.84, a P/E/G ratio of 1.14 and a beta of 1.48. MasTec, Inc. has a 12 month low of $36.40 and a 12 month high of $55.53. The company has a quick ratio of 1.66, a current ratio of 1.92 and a debt-to-equity ratio of 0.89.
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MasTec Company Profile
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.
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