Pacer Advisors Inc. acquired a new position in MasTec, Inc. (NYSE:MTZ – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,304 shares of the construction company’s stock, valued at approximately $965,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTZ. Raymond James Financial Services Advisors Inc. increased its position in MasTec by 6.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,281 shares of the construction company’s stock worth $1,331,000 after purchasing an additional 940 shares during the period. Citigroup Inc. boosted its holdings in MasTec by 139.8% during the first quarter. Citigroup Inc. now owns 48,537 shares of the construction company’s stock worth $4,228,000 after buying an additional 28,295 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in MasTec by 121.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,126 shares of the construction company’s stock worth $360,000 after buying an additional 2,260 shares during the last quarter. Bank of Montreal Can boosted its holdings in MasTec by 97.1% during the first quarter. Bank of Montreal Can now owns 30,573 shares of the construction company’s stock worth $2,635,000 after buying an additional 15,061 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in MasTec by 37.2% during the first quarter. MetLife Investment Management LLC now owns 38,037 shares of the construction company’s stock worth $3,313,000 after buying an additional 10,310 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.
MasTec Stock Down 1.5 %
NYSE:MTZ opened at $87.45 on Tuesday. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 208.22 and a beta of 1.37. MasTec, Inc. has a twelve month low of $62.36 and a twelve month high of $103.50. The stock’s 50 day moving average price is $91.95 and its two-hundred day moving average price is $89.96. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 1.11.
Analysts Set New Price Targets
A number of brokerages have issued reports on MTZ. TD Cowen raised their target price on MasTec from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Monday, March 6th. Robert W. Baird raised their target price on MasTec from $111.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, February 27th. Barclays raised their target price on MasTec from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, January 13th. Credit Suisse Group cut their price objective on MasTec from $122.00 to $121.00 and set an “outperform” rating on the stock in a report on Monday, February 27th. Finally, StockNews.com started coverage on MasTec in a report on Thursday, March 16th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.18.
About MasTec
MasTec, Inc engages in the provision of infrastructure construction services. It operates through the following segments: Communications, Oil and Gas, Clean Energy and Infrastructure, and Other. The Communications segment performs engineering, construction, maintenance, and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers.
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