Coe Capital Management buys $12,428,308 stake in MasTec (MTZ)

MasTec (MTZ) : Coe Capital Management scooped up 79,684 additional shares in MasTec during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 338,646 shares of MasTec which is valued at $12,428,308.MasTec makes up approximately 3.79% of Coe Capital Management’s portfolio.

Other Hedge Funds, Including , Millennium Management added MTZ to its portfolio by purchasing 386,183 company shares during the most recent quarter which is valued at $14,172,916. MasTec makes up approx 0.03% of Millennium Management’s portfolio. Rational Advisors added MTZ to its portfolio by purchasing 4,500 company shares during the most recent quarter which is valued at $150,075. MasTec makes up approx 0.10% of Rational Advisors’s portfolio.Westfield Capital Management Co Lp boosted its stake in MTZ in the latest quarter, The investment management firm added 255,175 additional shares and now holds a total of 748,926 shares of MasTec which is valued at $24,976,682. MasTec makes up approx 0.20% of Westfield Capital Management Co Lp’s portfolio.

MasTec closed down -0.25 points or -0.70% at $35.5 with 7,35,605 shares getting traded on Monday. Post opening the session at $35, the shares hit an intraday low of $34.2 and an intraday high of $35.55 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, MasTec reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Nov 3, 2016. Analyst had a consensus of $0.70. The company had revenue of $1586.10 million for the quarter, compared to analysts expectations of $1497.15 million. The company’s revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.

Many Wall Street Analysts have commented on MasTec. Company shares were Reiterated by Stifel on Nov 14, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $35 .

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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