Swiss National Bank Trims Holdings in MasTec, Inc. (NYSE:MTZ)

Swiss National Bank trimmed its stake in MasTec, Inc. (NYSE:MTZGet Rating) by 3.8% during the second quarter, Holdings Channel.com reports. The fund owned 135,100 shares of the construction company’s stock after selling 5,400 shares during the period. Swiss National Bank’s holdings in MasTec were worth $9,681,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC purchased a new stake in shares of MasTec in the 1st quarter valued at approximately $27,000. Core Alternative Capital purchased a new stake in shares of MasTec in the 1st quarter valued at approximately $31,000. Covestor Ltd increased its stake in MasTec by 40.1% during the 1st quarter. Covestor Ltd now owns 507 shares of the construction company’s stock worth $44,000 after buying an additional 145 shares during the period. Canada Pension Plan Investment Board purchased a new stake in MasTec during the 1st quarter worth approximately $52,000. Finally, Lazard Asset Management LLC purchased a new stake in MasTec during the 1st quarter worth approximately $53,000. 71.56% of the stock is owned by hedge funds and other institutional investors.

MasTec Trading Up 2.2 %

NYSE MTZ opened at $93.60 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.81. MasTec, Inc. has a 52 week low of $62.36 and a 52 week high of $102.80. The stock has a market capitalization of $7.32 billion, a PE ratio of 65.92 and a beta of 1.36. The firm has a 50 day moving average of $77.30 and a two-hundred day moving average of $77.60.

MasTec (NYSE:MTZGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The construction company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.22 by $0.06. MasTec had a net margin of 1.24% and a return on equity of 9.21%. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.54 billion. As a group, research analysts expect that MasTec, Inc. will post 2.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MTZ shares. Robert W. Baird upped their target price on shares of MasTec from $83.00 to $106.00 in a research note on Monday, August 8th. B. Riley upped their target price on shares of MasTec from $90.00 to $112.00 in a research note on Monday, November 7th. Citigroup upped their target price on shares of MasTec from $90.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, November 7th. StockNews.com downgraded shares of MasTec from a “hold” rating to a “sell” rating in a research note on Wednesday, October 26th. Finally, DA Davidson upped their target price on shares of MasTec to $110.00 in a research note on Monday, August 15th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, MasTec presently has an average rating of “Moderate Buy” and an average price target of $111.80.

MasTec Company Profile

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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 Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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