Sterling Capital Management LLC Buys 29,683 Shares of MasTec, Inc. (MTZ)

Sterling Capital Management LLC increased its stake in MasTec, Inc. (NYSE:MTZ) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 740,533 shares of the construction company’s stock after acquiring an additional 29,683 shares during the period. Sterling Capital Management LLC owned about 0.89% of MasTec worth $34,361,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MasTec by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,212 shares of the construction company’s stock valued at $100,000 after purchasing an additional 229 shares during the last quarter. SG Americas Securities LLC bought a new position in MasTec during the 2nd quarter valued at approximately $102,000. Global X Management Co. LLC raised its position in MasTec by 220.7% during the 2nd quarter. Global X Management Co. LLC now owns 2,614 shares of the construction company’s stock valued at $118,000 after purchasing an additional 1,799 shares during the last quarter. Advisory Services Network LLC raised its position in MasTec by 13.1% during the 2nd quarter. Advisory Services Network LLC now owns 3,700 shares of the construction company’s stock valued at $167,000 after purchasing an additional 430 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in MasTec by 110.2% during the 2nd quarter. D.A. Davidson & CO. now owns 3,800 shares of the construction company’s stock valued at $171,000 after purchasing an additional 1,992 shares during the last quarter. 73.23% of the stock is owned by institutional investors.

MasTec, Inc. (NYSE MTZ) traded up $0.05 during mid-day trading on Thursday, hitting $46.65. The company’s stock had a trading volume of 1,006,700 shares, compared to its average volume of 900,290. MasTec, Inc. has a 1 year low of $34.33 and a 1 year high of $49.50. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.74 and a quick ratio of 1.66. The stock has a market cap of $3,860.00, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.53.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, November 2nd. The construction company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. MasTec had a return on equity of 20.67% and a net margin of 3.78%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the business earned $0.81 EPS. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. research analysts forecast that MasTec, Inc. will post 2.65 earnings per share for the current year.

A number of research analysts have commented on MTZ shares. Citigroup set a $54.00 price target on MasTec and gave the company a “buy” rating in a research report on Friday, October 27th. Deutsche Bank raised MasTec from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $55.50 price target on shares of MasTec in a research report on Friday, October 13th. Robert W. Baird raised MasTec from a “neutral” rating to an “outperform” rating and upped their price target for the company from $51.00 to $53.00 in a research report on Monday, November 6th. Finally, ValuEngine lowered MasTec from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $55.05.

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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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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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