CIBC Asset Management Inc Takes Position in MasTec, Inc. (NYSE:MTZ)

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CIBC Asset Management Inc purchased a new stake in MasTec, Inc. (NYSE:MTZ) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 3,110 shares of the construction company’s stock, valued at approximately $202,000.

Other large investors have also bought and sold shares of the company. WINTON GROUP Ltd bought a new position in shares of MasTec during the 2nd quarter worth approximately $266,000. First National Bank of Omaha raised its stake in shares of MasTec by 27.1% during the 2nd quarter. First National Bank of Omaha now owns 100,218 shares of the construction company’s stock worth $5,165,000 after acquiring an additional 21,382 shares in the last quarter. Tributary Capital Management LLC grew its position in MasTec by 4.3% during the 2nd quarter. Tributary Capital Management LLC now owns 39,000 shares of the construction company’s stock worth $2,010,000 after purchasing an additional 1,600 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in MasTec during the 2nd quarter worth approximately $366,000. Finally, Sheets Smith Wealth Management grew its position in MasTec by 2.7% during the 2nd quarter. Sheets Smith Wealth Management now owns 75,291 shares of the construction company’s stock worth $3,880,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

In related news, Director Ernst N. Csiszar sold 3,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $64.53, for a total transaction of $193,590.00. Following the sale, the director now directly owns 25,564 shares of the company’s stock, valued at $1,649,644.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert J. Dwyer sold 5,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $70.54, for a total transaction of $352,700.00. Following the sale, the director now directly owns 19,461 shares in the company, valued at $1,372,778.94. The disclosure for this sale can be found here. 22.00% of the stock is owned by corporate insiders.

Several research firms have weighed in on MTZ. Canaccord Genuity set a $74.00 target price on shares of MasTec and gave the stock a “buy” rating in a research report on Friday, November 1st. B. Riley boosted their target price on shares of MasTec from $62.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. DA Davidson boosted their target price on shares of MasTec from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Credit Suisse Group boosted their target price on shares of MasTec from $68.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, UBS Group downgraded shares of MasTec from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $73.00 in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. MasTec has an average rating of “Buy” and a consensus target price of $71.17.

MTZ stock opened at $70.71 on Friday. The firm’s fifty day simple moving average is $65.89 and its 200-day simple moving average is $56.68. The company has a market capitalization of $5.56 billion, a P/E ratio of 19.43 and a beta of 1.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.65 and a quick ratio of 1.57. MasTec, Inc. has a 12 month low of $37.24 and a 12 month high of $73.71.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $1.73 EPS for the quarter, beating the 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 business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. As a group, sell-side analysts forecast that MasTec, Inc. will post 5.01 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for MasTec (NYSE:MTZ)

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