Aptus Capital Advisors LLC Has $2.31 Million Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Aptus Capital Advisors LLC lessened its holdings in MasTec, Inc. (NYSE:MTZ) by 28.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,616 shares of the construction company’s stock after selling 8,754 shares during the period. Aptus Capital Advisors LLC’s holdings in MasTec were worth $2,313,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in MasTec in the second quarter worth about $214,000. International Assets Investment Management LLC acquired a new position in MasTec in the second quarter worth about $112,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in MasTec by 8.1% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,281 shares of the construction company’s stock worth $351,000 after purchasing an additional 247 shares in the last quarter. Innealta Capital LLC acquired a new position in MasTec in the second quarter worth about $158,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in MasTec by 13.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 115,848 shares of the construction company’s stock worth $12,395,000 after buying an additional 14,015 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

MTZ opened at $113.13 on Monday. MasTec, Inc. has a one year low of $44.65 and a one year high of $113.69. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23. The company’s 50 day simple moving average is $107.04 and its 200-day simple moving average is $98.99. The stock has a market capitalization of $8.96 billion, a P/E ratio of -808.07 and a beta of 1.65.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period last year, the firm earned $0.81 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts anticipate that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MTZ. The Goldman Sachs Group upped their price objective on shares of MasTec from $88.00 to $109.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Truist Financial reaffirmed a “hold” rating and set a $112.00 price objective (up from $109.00) on shares of MasTec in a research note on Monday, August 5th. StockNews.com raised shares of MasTec from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. Stifel Nicolaus upped their price objective on shares of MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Craig Hallum upped their price objective on shares of MasTec from $96.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.50.

About MasTec

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