CI Investments Inc. grew its holdings in shares of MasTec, Inc. (NYSE:MTZ – Get Rating) by 48.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,520 shares of the construction company’s stock after purchasing an additional 497 shares during the quarter. CI Investments Inc.’s holdings in MasTec were worth $130,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTZ. Capital Analysts LLC bought a new position in MasTec during the fourth quarter worth about $26,000. Exchange Traded Concepts LLC bought a new position in MasTec during the fourth quarter worth about $27,000. Pinebridge Investments L.P. bought a new position in shares of MasTec in the fourth quarter valued at approximately $27,000. Huntington National Bank boosted its position in shares of MasTec by 54.5% in the fourth quarter. Huntington National Bank now owns 411 shares of the construction company’s stock valued at $35,000 after acquiring an additional 145 shares during the period. Finally, Covestor Ltd boosted its position in shares of MasTec by 40.1% in the first quarter. Covestor Ltd now owns 507 shares of the construction company’s stock valued at $44,000 after acquiring an additional 145 shares during the period. Institutional investors own 69.80% of the company’s stock.
MasTec Stock Down 2.6 %
Shares of NYSE MTZ opened at $94.41 on Thursday. The company has a quick ratio of 1.47, a current ratio of 1.54 and a debt-to-equity ratio of 1.15. MasTec, Inc. has a 52 week low of $62.36 and a 52 week high of $103.50. The firm’s fifty day moving average is $90.55 and its 200 day moving average is $91.93. The company has a market cap of $7.45 billion, a price-to-earnings ratio of -590.03 and a beta of 1.36.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. StockNews.com assumed coverage on shares of MasTec in a research report on Thursday, May 18th. They issued a “hold” rating for the company. TD Cowen raised their price objective on shares of MasTec from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, March 6th. Robert W. Baird lifted their target price on shares of MasTec from $120.00 to $125.00 in a research report on Monday, May 8th. Craig Hallum upgraded shares of MasTec from a “hold” rating to a “buy” rating and lifted their target price for the company from $97.00 to $113.00 in a research report on Monday, May 8th. Finally, B. Riley lifted their target price on shares of MasTec from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, February 28th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.60.
MasTec Profile
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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