Coe Capital Management buys $10.2 Million stake in MasTec (MTZ)

MasTec (MTZ) : Coe Capital Management scooped up 272,518 additional shares in MasTec during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 481,349 shares of MasTec which is valued at $10.2 Million.MasTec makes up approximately 3.28% of Coe Capital Management’s portfolio.

Other Hedge Funds, Including , Spark Investment Management added MTZ to its portfolio by purchasing 106,000 company shares during the most recent quarter which is valued at $2.3 Million. MasTec makes up approx 0.23% of Spark Investment Management’s portfolio. Tfs Capital sold out all of its stake in MTZ during the most recent quarter. The investment firm sold 109,867 shares of MTZ which is valued $2.3 Million.Billings Capital Management reduced its stake in MTZ by selling 151,717 shares or 15.96% in the most recent quarter. The Hedge Fund company now holds 798,756 shares of MTZ which is valued at $17 Million. MasTec makes up approx 17.87% of Billings Capital Management’s portfolio.Ifp Advisors Inc reduced its stake in MTZ by selling 16 shares or 13.79% in the most recent quarter. The Hedge Fund company now holds 100 shares of MTZ which is valued at $2,233.Corbyn Investment Management Incmd reduced its stake in MTZ by selling 100,633 shares or 12.02% in the most recent quarter. The Hedge Fund company now holds 736,652 shares of MTZ which is valued at $16.7 Million. MasTec makes up approx 5.18% of Corbyn Investment Management Incmd’s portfolio.

MasTec opened for trading at $21.6 and hit $22.6225 on the upside on Friday, eventually ending the session at $22.29, with a gain of 4.01% or 0.86 points. The heightened volatility saw the trading volume jump to 9,49,906 shares. Company has a market cap of $1,833 M.

On the company’s financial health, MasTec reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 5, 2016. Analyst had a consensus of $-0.02. The company had revenue of $974.20 million for the quarter, compared to analysts expectations of $951.17 million. The company’s revenue was down -2.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.08 EPS.

Many Wall Street Analysts have commented on MasTec. Company shares were Reiterated by Maxim Group on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 26 from a previous price target of $24 .Company shares were Reiterated by FBR Capital on May 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 25 from a previous price target of $24 .Canaccord Genuity Initiated MasTec on Apr 12, 2016 to “Buy”, Price Target of the shares are set at $23.

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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