Matarin Capital Management buys $8,201,519 stake in MasTec (MTZ)

MasTec (MTZ) : Matarin Capital Management scooped up 7,088 additional shares in MasTec during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 275,774 shares of MasTec which is valued at $8,201,519.MasTec makes up approximately 1.05% of Matarin Capital Management’s portfolio.

Other Hedge Funds, Including , Blackrock Advisors boosted its stake in MTZ in the latest quarter, The investment management firm added 583 additional shares and now holds a total of 30,813 shares of MasTec which is valued at $916,379.State Board Of Administration Of Florida Retirement System reduced its stake in MTZ by selling 681 shares or 1.27% in the most recent quarter. The Hedge Fund company now holds 52,912 shares of MTZ which is valued at $1,494,764.Her Majesty The Queen In Right Of The Province Of Alberta… reduced its stake in MTZ by selling 1,620 shares or 4.46% in the most recent quarter. The Hedge Fund company now holds 34,720 shares of MTZ which is valued at $860,709. MasTec makes up approx 0.01% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio.Emerald Mutual Fund Advisers Trust boosted its stake in MTZ in the latest quarter, The investment management firm added 690 additional shares and now holds a total of 15,575 shares of MasTec which is valued at $380,809. MasTec makes up approx 0.02% of Emerald Mutual Fund Advisers Trust’s portfolio.American Century Companies Inc boosted its stake in MTZ in the latest quarter, The investment management firm added 4,086 additional shares and now holds a total of 336,599 shares of MasTec which is valued at $8,280,335. MasTec makes up approx 0.01% of American Century Companies Inc’s portfolio.

MasTec closed down -0.52 points or -1.69% at $30.24 with 5,13,866 shares getting traded on Friday. Post opening the session at $30.69, the shares hit an intraday low of $30.0375 and an intraday high of $30.69 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, MasTec reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.23. The company had revenue of $1232.40 million for the quarter, compared to analysts expectations of $1159.85 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on MasTec. Company shares were Reiterated by Maxim Group on Aug 9, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $26 .Company shares were Reiterated by FBR Capital on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 35 from a previous price target of $25 .Company shares were Reiterated by Wunderlich on Aug 8, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $28 .

MasTec Inc. is an infrastructure construction company. The Company’s primary activities include the engineering building installation maintenance and upgrade of communications energy and utility infrastructure such as wireless wireline/fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation and industrial infrastructure. The Company manages its operations under five operating segments: Communications; Oil and Gas; Electrical Transmission; Power Generation and Industrial and Other. The Company offers its services primarily under the MasTec service mark and it has operations across 460 locations. It provides services under master service and other service agreements which are generally multi-year agreements. It offers its service offerings in markets including wireless services; natural gas natural gas liquids and petroleum pipeline; and electrical transmission among others.

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