Dimensional Fund Advisors LP cut its stake in shares of MasTec, Inc. (NYSE:MTZ) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,753,757 shares of the construction company’s stock after selling 70,836 shares during the period. Dimensional Fund Advisors LP owned 3.50% of MasTec worth $122,954,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in MTZ. Schroder Investment Management Group purchased a new stake in shares of MasTec during the 2nd quarter valued at $41,125,000. Pictet Asset Management Ltd. grew its stake in shares of MasTec by 153.8% during the 3rd quarter. Pictet Asset Management Ltd. now owns 802,820 shares of the construction company’s stock valued at $35,846,000 after buying an additional 486,498 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of MasTec by 58.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 760,000 shares of the construction company’s stock valued at $33,934,000 after buying an additional 280,000 shares during the period. BlackRock Inc. grew its stake in shares of MasTec by 5.4% during the 3rd quarter. BlackRock Inc. now owns 5,055,794 shares of the construction company’s stock valued at $225,742,000 after buying an additional 260,030 shares during the period. Finally, Stack Financial Management Inc purchased a new stake in shares of MasTec during the 2nd quarter valued at $12,205,000. 84.91% of the stock is owned by institutional investors.
NYSE:MTZ opened at $40.86 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.85 and a debt-to-equity ratio of 1.13. The firm has a market cap of $3.36 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. MasTec, Inc. has a twelve month low of $40.02 and a twelve month high of $55.53.
MasTec (NYSE:MTZ) last posted its earnings results on Thursday, November 1st. The construction company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.13. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.99 billion. MasTec had a net margin of 5.89% and a return on equity of 17.01%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.82 EPS. Sell-side analysts forecast that MasTec, Inc. will post 3.65 EPS for the current year.
MTZ has been the subject of several research reports. ValuEngine raised shares of MasTec from a “sell” rating to a “hold” rating in a research note on Tuesday, November 27th. Zacks Investment Research cut shares of MasTec from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Citigroup reissued a “buy” rating on shares of MasTec in a research note on Thursday, August 30th. Robert W. Baird set a $51.00 price objective on shares of MasTec and gave the company a “buy” rating in a research note on Wednesday, August 29th. Finally, Canaccord Genuity lowered their price objective on shares of MasTec from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, November 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $60.42.
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MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility 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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