Hussman Strategic Advisors adds MasTec (MTZ) to its portfolio

MasTec (MTZ) : Hussman Strategic Advisors added new position in MasTec during the most recent quarter end. The investment management firm now holds 350,000 shares of MasTec which is valued at $8,676,500 , the company said in a statement filed on Aug 1, 2016 with the SEC.MasTec makes up approximately 1.28% of Hussman Strategic Advisors’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc added MTZ to its portfolio by purchasing 973 company shares during the most recent quarter which is valued at $23,936. Kessler Investment Group added MTZ to its portfolio by purchasing 17,108 company shares during the most recent quarter which is valued at $420,857. MasTec makes up approx 0.58% of Kessler Investment Group’s portfolio.

MasTec closed down -0.42 points or -1.69% at $24.37 with 19,24,731 shares getting traded on Thursday. Post opening the session at $24.81, the shares hit an intraday low of $23.86 and an intraday high of $24.81 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, MasTec reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.23. The company had revenue of $1232.40 million for the quarter, compared to analysts expectations of $1159.85 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 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 .

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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