Commonwealth Equity Services LLC Raises Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Commonwealth Equity Services LLC increased its position in MasTec, Inc. (NYSE:MTZ) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,558 shares of the construction company’s stock after buying an additional 1,262 shares during the quarter. Commonwealth Equity Services LLC’s holdings in MasTec were worth $6,338,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System increased its stake in shares of MasTec by 21.7% in the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after buying an additional 5,750 shares during the period. Kingswood Wealth Advisors LLC increased its stake in shares of MasTec by 45.8% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after buying an additional 8,948 shares during the period. Atom Investors LP increased its stake in shares of MasTec by 979.0% in the third quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after buying an additional 55,363 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of MasTec by 286.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock worth $2,433,000 after buying an additional 13,241 shares during the period. Finally, State Street Corp boosted its holdings in MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after acquiring an additional 24,522 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Performance

MTZ stock opened at $123.89 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $135.56 and its two-hundred day simple moving average is $132.48. MasTec, Inc. has a twelve month low of $82.29 and a twelve month high of $166.95. The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 110.61 and a beta of 1.74.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MTZ shares. Barclays lifted their price target on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. 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. KeyCorp lifted their price target on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Finally, Guggenheim assumed coverage on shares of MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price on the stock. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and a consensus target price of $160.07.

MasTec Profile

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.