ClariVest Asset Management LLC Sells 27,424 Shares of MasTec, Inc. (MTZ)

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ClariVest Asset Management LLC lessened its stake in shares of MasTec, Inc. (NYSE:MTZ) by 16.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 137,151 shares of the construction company’s stock after selling 27,424 shares during the quarter. ClariVest Asset Management LLC owned approximately 0.17% of MasTec worth $6,961,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Boston Partners boosted its stake in shares of MasTec by 2.6% in the second quarter. Boston Partners now owns 1,503,110 shares of the construction company’s stock worth $76,283,000 after buying an additional 37,654 shares during the last quarter. Tygh Capital Management Inc. boosted its position in MasTec by 0.8% during the second quarter. Tygh Capital Management Inc. now owns 330,223 shares of the construction company’s stock worth $16,759,000 after purchasing an additional 2,530 shares in the last quarter. Pier Capital LLC boosted its position in MasTec by 13.8% during the second quarter. Pier Capital LLC now owns 160,853 shares of the construction company’s stock worth $8,163,000 after purchasing an additional 19,560 shares in the last quarter. Tributary Capital Management LLC boosted its position in MasTec by 7.2% during the second quarter. Tributary Capital Management LLC now owns 56,700 shares of the construction company’s stock worth $2,878,000 after purchasing an additional 3,800 shares in the last quarter. Finally, Chicago Equity Partners LLC boosted its position in MasTec by 5.0% during the second quarter. Chicago Equity Partners LLC now owns 93,330 shares of the construction company’s stock worth $4,736,000 after purchasing an additional 4,480 shares in the last quarter. 82.34% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Cardenas Alberto De sold 10,000 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $48.00, for a total value of $480,000.00. Following the completion of the sale, the executive vice president now owns 101,755 shares of the company’s stock, valued at $4,884,240. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 20.10% of the stock is currently owned by company insiders.

Shares of MasTec stock traded down $0.15 during mid-day trading on Friday, reaching $42.85. 760,555 shares of the stock traded hands, compared to its average volume of 1,461,093. MasTec, Inc. has a fifty-two week low of $39.83 and a fifty-two week high of $55.53. The stock has a market capitalization of $3.58 billion, a P/E ratio of 17.86, a PEG ratio of 1.60 and a beta of 1.52. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.82 and a quick ratio of 1.74.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, August 2nd. The construction company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. MasTec had a return on equity of 14.84% and a net margin of 5.05%. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The business’s revenue was down 14.4% compared to the same quarter last year. research analysts anticipate that MasTec, Inc. will post 3.49 EPS for the current fiscal year.

A number of equities analysts have issued reports on MTZ shares. Citigroup reiterated a “buy” rating on shares of MasTec in a research report on Thursday, August 30th. Robert W. Baird set a $51.00 price target on MasTec and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research upgraded MasTec from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, August 8th. Canaccord Genuity reiterated a “buy” rating and set a $65.00 price target on shares of MasTec in a research report on Friday, August 3rd. Finally, ValuEngine upgraded MasTec from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $60.08.

MasTec Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, and utility 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.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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