MasTec, Inc. (NYSE:MTZ) Position Lessened by American International Group Inc.

American International Group Inc. cut its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,580 shares of the construction company’s stock after selling 2,290 shares during the period. American International Group Inc. owned approximately 0.05% of MasTec worth $2,003,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MasTec by 53.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,387 shares of the construction company’s stock valued at $166,000 after buying an additional 1,175 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of MasTec by 81.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,624 shares of the construction company’s stock worth $128,000 after purchasing an additional 1,179 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of MasTec by 2.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 51,280 shares of the construction company’s stock worth $2,510,000 after purchasing an additional 1,369 shares during the last quarter. US Bancorp DE increased its stake in shares of MasTec by 3.3% during the 4th quarter. US Bancorp DE now owns 48,852 shares of the construction company’s stock worth $2,391,000 after purchasing an additional 1,558 shares during the last quarter. Finally, Columbia Partners L L C Investment Management increased its stake in shares of MasTec by 2.5% during the 4th quarter. Columbia Partners L L C Investment Management now owns 66,759 shares of the construction company’s stock worth $3,267,000 after purchasing an additional 1,600 shares during the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently commented on MTZ. Craig Hallum restated a “buy” rating and set a $69.00 price target (up previously from $64.00) on shares of MasTec in a research note on Thursday, March 1st. DA Davidson increased their price target on shares of MasTec to $65.00 and gave the stock a “buy” rating in a research note on Thursday, March 1st. Robert W. Baird lowered shares of MasTec from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research note on Thursday, March 1st. Credit Suisse Group reiterated an “outperform” rating and issued a $70.00 target price (up from $69.00) on shares of MasTec in a research note on Thursday, March 1st. Finally, Deutsche Bank upgraded shares of MasTec to a “buy” rating and raised their target price for the company from $43.00 to $48.00 in a research note on Thursday, March 22nd. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $61.15.

MasTec traded up $0.50, reaching $50.80, during mid-day trading on Thursday, Marketbeat reports. The company had a trading volume of 827,348 shares, compared to its average volume of 908,839. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.82 and a quick ratio of 1.74. MasTec, Inc. has a 52 week low of $38.40 and a 52 week high of $55.53. The company has a market cap of $4.00 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.00 and a beta of 1.55.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Monday, April 30th. The construction company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.14. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.24 billion. MasTec had a net margin of 4.86% and a return on equity of 15.48%. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. analysts expect that MasTec, Inc. will post 3.56 earnings per share for the current fiscal year.

MasTec Company Profile

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.

Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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