MasTec (MTZ) : Peconic Partners scooped up 250,000 additional shares in MasTec during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 4,878,991 shares of MasTec which is valued at $145,101,192.MasTec makes up approximately 25.32% of Peconic Partners’s portfolio.
Other Hedge Funds, Including , Paloma Partners Management Co boosted its stake in MTZ in the latest quarter, The investment management firm added 23,883 additional shares and now holds a total of 42,051 shares of MasTec which is valued at $1,250,597. MasTec makes up approx 0.05% of Paloma Partners Management Co’s portfolio.Geode Capital Management boosted its stake in MTZ in the latest quarter, The investment management firm added 34,048 additional shares and now holds a total of 438,146 shares of MasTec which is valued at $13,030,462. MasTec makes up approx 0.01% of Geode Capital Management’s portfolio. Pacad Investment Ltd. added MTZ to its portfolio by purchasing 8,700 company shares during the most recent quarter which is valued at $258,738. MasTec makes up approx 0.03% of Pacad Investment Ltd.’s portfolio.State Of New Jersey Common Pension Fund D reduced its stake in MTZ by selling 400,000 shares or 50.0% in the most recent quarter. The Hedge Fund company now holds 400,000 shares of MTZ which is valued at $9,916,000. MasTec makes up approx 0.04% of State Of New Jersey Common Pension Fund D’s portfolio.
MasTec closed down -0.02 points or -0.07% at $29.43 with 8,89,172 shares getting traded on Thursday. Post opening the session at $29.41, the shares hit an intraday low of $28.673 and an intraday high of $29.575 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.