MasTec, Inc. (NYSE:MTZ) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 120,129 shares of the construction company’s stock after acquiring an additional 8,455 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MasTec were worth $16,354,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MTZ. Allworth Financial LP raised its position in shares of MasTec by 15.1% in the 4th quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock worth $81,000 after buying an additional 78 shares during the period. CIBC Asset Management Inc increased its stake in MasTec by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock worth $281,000 after acquiring an additional 82 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of MasTec by 0.5% in the 4th quarter. Arizona State Retirement System now owns 18,393 shares of the construction company’s stock worth $2,504,000 after purchasing an additional 89 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of MasTec by 2.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock valued at $423,000 after purchasing an additional 94 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of MasTec by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Trading Up 3.2 %

MTZ opened at $118.17 on Thursday. The stock has a market capitalization of $9.37 billion, a PE ratio of 105.51 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a 12-month low of $82.29 and a 12-month high of $166.95. The firm’s fifty day moving average price is $139.12 and its 200 day moving average price is $132.16.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. As a group, research analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MTZ has been the topic of several research reports. Stifel Nicolaus cut their price target on shares of MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. raised their target price on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Barclays upped their price target on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Robert W. Baird cut their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, KeyCorp upped their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and an average target price of $160.14.

About MasTec

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.