Comerica Bank Cuts Stock Position in MasTec, Inc. (NYSE:MTZ)

Comerica Bank cut its holdings in shares of MasTec, Inc. (NYSE:MTZGet Rating) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,162 shares of the construction company’s stock after selling 375 shares during the period. Comerica Bank’s holdings in MasTec were worth $1,977,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Campbell Newman Asset Management Inc. grew its position in shares of MasTec by 2.5% during the third quarter. Campbell Newman Asset Management Inc. now owns 26,566 shares of the construction company’s stock worth $1,687,000 after buying an additional 637 shares in the last quarter. Strs Ohio grew its position in shares of MasTec by 6.0% during the third quarter. Strs Ohio now owns 14,339 shares of the construction company’s stock worth $910,000 after buying an additional 810 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of MasTec by 7.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,306,580 shares of the construction company’s stock worth $209,967,000 after buying an additional 219,922 shares in the last quarter. Mirabella Financial Services LLP acquired a new position in shares of MasTec during the third quarter worth about $323,000. Finally, Wipfli Financial Advisors LLC acquired a new position in shares of MasTec during the third quarter worth about $42,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MTZ. Cowen lowered their price objective on MasTec from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, December 27th. Barclays boosted their price objective on MasTec from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, January 13th. Credit Suisse Group upped their price target on MasTec from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, November 7th. StockNews.com downgraded MasTec from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. Finally, Cowen lowered their price target on MasTec from $125.00 to $120.00 in a report on Tuesday, December 27th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.30.

MasTec Price Performance

MTZ stock opened at $92.62 on Friday. The company has a market capitalization of $7.28 billion, a P/E ratio of 65.23 and a beta of 1.38. MasTec, Inc. has a twelve month low of $62.36 and a twelve month high of $98.28. The business has a 50 day simple moving average of $89.49 and a 200-day simple moving average of $81.06. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.81.

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

MasTec Profile

(Get Rating)

MasTec, Inc engages in the provision of infrastructure construction services. It operates through the following segments: Communications, Oil and Gas, Clean Energy and Infrastructure, and Other. The Communications segment performs engineering, construction, maintenance, and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers.

See Also

Want to see what other hedge funds are holding MTZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MasTec, Inc. (NYSE:MTZGet Rating).

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.