Kornitzer Capital Management Inc. KS Sells 4,815 Shares of MasTec, Inc. (NYSE:MTZ)

Kornitzer Capital Management Inc. KS reduced its position in shares of MasTec, Inc. (NYSE:MTZ) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 212,475 shares of the construction company’s stock after selling 4,815 shares during the period. Kornitzer Capital Management Inc. KS owned 0.28% of MasTec worth $13,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTZ. BlackRock Inc. raised its stake in shares of MasTec by 1.8% in the 2nd quarter. BlackRock Inc. now owns 7,947,536 shares of the construction company’s stock valued at $409,536,000 after buying an additional 139,490 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of MasTec by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 5,957,657 shares of the construction company’s stock valued at $306,998,000 after buying an additional 35,049 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of MasTec by 0.8% in the 2nd quarter. Macquarie Group Ltd. now owns 3,919,817 shares of the construction company’s stock valued at $201,988,000 after buying an additional 30,639 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of MasTec by 6.7% in the 2nd quarter. Wells Fargo & Company MN now owns 1,706,761 shares of the construction company’s stock valued at $87,949,000 after buying an additional 106,929 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of MasTec by 0.9% in the 2nd quarter. Northern Trust Corp now owns 1,029,492 shares of the construction company’s stock valued at $53,050,000 after buying an additional 9,629 shares in the last quarter. 80.57% of the stock is owned by institutional investors and hedge funds.

Shares of MasTec stock traded down $0.38 during mid-day trading on Friday, reaching $70.47. 473,218 shares of the stock were exchanged, compared to its average volume of 1,044,844. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 19.36 and a beta of 1.35. The company has a current ratio of 1.65, a quick ratio of 1.57 and a debt-to-equity ratio of 0.82. The firm has a 50-day simple moving average of $65.77 and a 200 day simple moving average of $56.58. MasTec, Inc. has a fifty-two week low of $37.24 and a fifty-two week high of $73.71.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.14. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.14 billion. MasTec had a net margin of 4.37% and a return on equity of 24.39%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.33 EPS. On average, research analysts predict that MasTec, Inc. will post 5.01 EPS for the current fiscal year.

A number of brokerages have recently issued reports on MTZ. Craig Hallum increased their price objective on shares of MasTec from $69.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Canaccord Genuity set a $74.00 price objective on shares of MasTec and gave the company a “buy” rating in a research note on Friday, November 1st. DA Davidson increased their price objective on shares of MasTec from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday. Barclays increased their target price on shares of MasTec from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Credit Suisse Group increased their target price on shares of MasTec from $68.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. MasTec presently has a consensus rating of “Buy” and an average target price of $71.17.

In other MasTec news, Director Ernst N. Csiszar sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $64.53, for a total value of $193,590.00. Following the completion of the sale, the director now owns 25,564 shares in the company, valued at approximately $1,649,644.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert J. Dwyer sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $70.54, for a total transaction of $352,700.00. Following the completion of the sale, the director now owns 19,461 shares of the company’s stock, valued at approximately $1,372,778.94. The disclosure for this sale can be found here. Company insiders own 22.00% of the company’s stock.

MasTec Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other 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.

Recommended Story: Inverted Yield Curve

Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply