Sg Capital Management buys $22,979,741 stake in MasTec (MTZ)

MasTec (MTZ) : Sg Capital Management scooped up 247,847 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 772,688 shares of MasTec which is valued at $22,979,741.MasTec makes up approximately 5.10% of Sg Capital Management’s portfolio.

Other Hedge Funds, Including , Hbk Investments L P added MTZ to its portfolio by purchasing 43,455 company shares during the most recent quarter which is valued at $1,292,352. MasTec makes up approx 0.03% of Hbk Investments L P’s portfolio.Paradigm Asset Management Co reduced its stake in MTZ by selling 500 shares or 6.67% in the most recent quarter. The Hedge Fund company now holds 7,000 shares of MTZ which is valued at $208,180. MasTec makes up approx 0.04% of Paradigm Asset Management Co’s portfolio. Trexquant Investment Lp sold out all of its stake in MTZ during the most recent quarter. The investment firm sold 18,437 shares of MTZ which is valued $548,316. Sg Americas Securities sold out all of its stake in MTZ during the most recent quarter. The investment firm sold 8,621 shares of MTZ which is valued $213,715. Acadian Asset Management sold out all of its stake in MTZ during the most recent quarter. The investment firm sold 4,182 shares of MTZ which is valued $102,877.

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.

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