UBS Asset Management Americas Inc. Decreases Position in MasTec, Inc. (NYSE:MTZ)

UBS Asset Management Americas Inc. lessened its holdings in MasTec, Inc. (NYSE:MTZ) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 311,665 shares of the construction company’s stock after selling 585 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.41% of MasTec worth $16,060,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Weaver Consulting Group purchased a new position in MasTec in the 1st quarter valued at approximately $25,000. C M Bidwell & Associates Ltd. purchased a new position in MasTec in the 2nd quarter valued at approximately $45,000. NumerixS Investment Technologies Inc purchased a new position in MasTec in the 2nd quarter valued at approximately $70,000. Advisory Services Network LLC boosted its position in MasTec by 56.2% in the 2nd quarter. Advisory Services Network LLC now owns 2,109 shares of the construction company’s stock valued at $109,000 after buying an additional 759 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in MasTec by 7.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,307 shares of the construction company’s stock valued at $119,000 after buying an additional 168 shares during the period. 82.34% of the stock is owned by institutional investors.

In related news, Director Ernst N. Csiszar sold 3,000 shares of the business’s stock in a transaction on 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 directly owns 25,564 shares of the company’s stock, valued at $1,649,644.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director C Robert Campbell sold 5,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $57.72, for a total transaction of $288,600.00. Following the completion of the sale, the director now directly owns 67,001 shares of the company’s stock, valued at $3,867,297.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,000 shares of company stock valued at $1,983,440. 22.00% of the stock is owned by corporate insiders.

Several research firms have recently issued reports on MTZ. ValuEngine raised shares of MasTec from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. DA Davidson lifted their price objective on shares of MasTec to $70.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Canaccord Genuity lifted their price objective on shares of MasTec from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. B. Riley lifted their price objective on shares of MasTec from $62.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Deutsche Bank lifted their price objective on shares of MasTec from $60.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.08.

Shares of MasTec stock traded down $0.86 during trading on Tuesday, hitting $64.07. 26,576 shares of the stock were exchanged, compared to its average volume of 815,768. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 17.60 and a beta of 1.32. The firm’s 50-day moving average price is $62.71 and its 200 day moving average price is $53.28. MasTec, Inc. has a 12-month low of $37.24 and a 12-month high of $66.61. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.53 and a quick ratio of 1.44.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $1.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.51. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.80 billion. MasTec had a net margin of 4.29% and a return on equity of 23.43%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS. As a group, research analysts forecast that MasTec, Inc. will post 4.9 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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