Community Trust & Investment Co. Increases Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Community Trust & Investment Co. grew its stake in MasTec, Inc. (NYSE:MTZ) by 0.6% in the second quarter, Holdings Channel.com reports. The firm owned 137,713 shares of the construction company’s stock after acquiring an additional 797 shares during the quarter. MasTec makes up approximately 1.3% of Community Trust & Investment Co.’s investment portfolio, making the stock its 27th biggest position. Community Trust & Investment Co.’s holdings in MasTec were worth $16,246,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd grew its stake in shares of MasTec by 40.1% in the 1st quarter. Covestor Ltd now owns 507 shares of the construction company’s stock valued at $44,000 after buying an additional 145 shares during the period. Canada Pension Plan Investment Board acquired a new position in MasTec during the 1st quarter worth about $52,000. Lazard Asset Management LLC purchased a new position in MasTec during the 1st quarter valued at about $53,000. NewEdge Advisors LLC grew its position in MasTec by 54.5% in the 1st quarter. NewEdge Advisors LLC now owns 689 shares of the construction company’s stock valued at $65,000 after acquiring an additional 243 shares in the last quarter. Finally, Quent Capital LLC increased its stake in MasTec by 2,272.7% during the second quarter. Quent Capital LLC now owns 1,044 shares of the construction company’s stock worth $123,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 72.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MTZ shares. B. Riley dropped their price objective on shares of MasTec from $138.00 to $129.00 in a research report on Monday, August 7th. Credit Suisse Group lifted their target price on MasTec from $118.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Citigroup decreased their target price on MasTec from $135.00 to $116.00 in a research report on Friday, August 4th. Barclays decreased their price objective on MasTec from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, August 4th. Finally, StockNews.com raised MasTec from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and an average target price of $118.91.

MasTec Stock Down 0.7 %

MasTec stock traded down $0.62 during midday trading on Tuesday, hitting $83.24. 85,776 shares of the stock were exchanged, compared to its average volume of 656,162. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.51 and a current ratio of 1.57. MasTec, Inc. has a 1 year low of $62.36 and a 1 year high of $123.33. The company has a 50 day moving average price of $102.27 and a two-hundred day moving average price of $99.59.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, August 3rd. The construction company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.06. MasTec had a negative net margin of 0.12% and a positive return on equity of 6.93%. The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $3.01 billion. On average, research analysts anticipate that MasTec, Inc. will post 3.63 EPS for the current fiscal year.

MasTec Company Profile

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, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.