Empowered Funds LLC Purchases New Stake in MasTec, Inc. (NYSE:MTZ)

Empowered Funds LLC purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the fourth quarter, Holdings Channel reports. The firm purchased 39,358 shares of the construction company’s stock, valued at approximately $2,525,000.

Other large investors have also recently bought and sold shares of the company. North Star Investment Management Corp. bought a new stake in MasTec during the 3rd quarter valued at $32,000. Nisa Investment Advisors LLC raised its holdings in MasTec by 43.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 530 shares of the construction company’s stock valued at $34,000 after buying an additional 160 shares during the last quarter. Vigilant Capital Management LLC bought a new stake in MasTec during the 4th quarter valued at $38,000. Cerebellum GP LLC bought a new stake in MasTec during the 3rd quarter valued at $91,000. Finally, Endurance Wealth Management Inc. raised its holdings in MasTec by 136.8% during the 3rd quarter. Endurance Wealth Management Inc. now owns 1,421 shares of the construction company’s stock valued at $92,000 after buying an additional 821 shares during the last quarter. Institutional investors own 77.38% of the company’s stock.

A number of equities research analysts recently commented on the stock. DA Davidson upped their price target on shares of MasTec from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. KeyCorp upped their price target on shares of MasTec from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group lowered shares of MasTec from a “buy” rating to a “neutral” rating and upped their price target for the company from $63.00 to $73.00 in a report on Thursday, October 24th. ValuEngine lowered shares of MasTec from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 3rd. Finally, Canaccord Genuity set a $74.00 price objective on shares of MasTec and gave the company a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $70.25.

MasTec stock traded down $0.69 during mid-day trading on Tuesday, reaching $59.14. 96,689 shares of the company traded hands, compared to its average volume of 557,166. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.65 and a quick ratio of 1.57. The firm’s 50 day moving average price is $62.92 and its 200 day moving average price is $62.66. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 13.92 and a beta of 1.36. MasTec, Inc. has a 52-week low of $40.51 and a 52-week high of $73.71.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.14. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.14 billion. MasTec had a net margin of 4.37% and a return on equity of 24.39%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.33 EPS. On average, sell-side analysts anticipate that MasTec, Inc. will post 5.01 EPS for the current year.

In other MasTec news, Director Robert J. Dwyer sold 5,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $70.54, for a total transaction of $352,700.00. Following the transaction, the director now directly owns 19,461 shares of the company’s stock, valued at approximately $1,372,778.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 22.00% of the stock is currently owned by insiders.

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, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other.

Featured Story: Percentage Gainers

Want to see what other hedge funds are holding MTZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MasTec, Inc. (NYSE:MTZ).

Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

Receive News & Ratings for MasTec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec and related companies with MarketBeat.com's FREE daily email newsletter.