Wells Fargo & Company MN Has $11,850,000 Stake in MasTec Inc. (MTZ)
Wells Fargo & Company MN increased its stake in shares of MasTec Inc. (NYSE:MTZ) by 5.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,444 shares of the company’s stock after buying an additional 20,485 shares during the period. Wells Fargo & Company MN’s holdings in MasTec were worth $11,850,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of MTZ. Pillar Pacific Capital Management LLC acquired a new position in MasTec during the second quarter worth approximately $205,000. BlackRock Group LTD raised its position in 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 last quarter. Hood River Capital Management LLC raised its position in MasTec by 32.6% in the second quarter. Hood River Capital Management LLC now owns 589,613 shares of the company’s stock worth $13,160,000 after buying an additional 144,963 shares during the last quarter. Oxford Asset Management raised its position in MasTec by 62.3% in the second quarter. Oxford Asset Management now owns 660,531 shares of the company’s stock worth $14,743,000 after buying an additional 253,523 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its position in MasTec by 4.6% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 15,575 shares of the company’s stock worth $348,000 after buying an additional 690 shares during the last quarter. Institutional investors own 69.74% of the company’s stock.
MasTec Inc. (NYSE:MTZ) traded up 5.0613% on Wednesday, hitting $38.3999. 478,828 shares of the stock were exchanged. MasTec Inc. has a 1-year low of $12.44 and a 1-year high of $38.40. The company has a market capitalization of $3.09 billion, a PE ratio of 3490.8999 and a beta of 1.22. The company has a 50-day moving average price of $31.41 and a 200 day moving average price of $27.34.
MasTec (NYSE:MTZ) last issued its earnings results on Thursday, November 3rd. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.50 billion. MasTec had a net margin of 0.02% and a return on equity of 10.76%. MasTec’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. Analysts anticipate that MasTec Inc. will post $1.74 EPS for the current fiscal year.
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A number of equities analysts have recently commented on the company. Canaccord Genuity set a $33.00 price objective on MasTec and gave the stock a “buy” rating in a research note on Saturday, August 6th. DA Davidson reiterated a “buy” rating and issued a $34.00 price objective on shares of MasTec in a research note on Monday, November 7th. KeyCorp lifted their price objective on MasTec from $36.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup Inc. lifted their price objective on MasTec from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Finally, Stifel Nicolaus lifted their price objective on MasTec from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, November 14th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $33.18.
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.
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