Motco Has $262,000 Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Motco lessened its stake in shares of MasTec, Inc. (NYSE:MTZ) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,925 shares of the construction company’s stock after selling 100 shares during the quarter. Motco’s holdings in MasTec were worth $262,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. increased its position in MasTec by 65.6% during the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after acquiring an additional 895,227 shares during the period. State Street Corp increased its position in MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after acquiring an additional 24,522 shares during the period. Geode Capital Management LLC increased its position in MasTec by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after acquiring an additional 16,844 shares during the period. Point72 Asset Management L.P. increased its position in MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after acquiring an additional 279,778 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in MasTec by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after acquiring an additional 7,469 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Trading Up 2.9 %

MTZ opened at $130.55 on Friday. The company’s 50 day moving average is $141.72 and its 200-day moving average is $131.28. MasTec, Inc. has a 1-year low of $73.85 and a 1-year high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company has a market cap of $10.34 billion, a P/E ratio of 116.56 and a beta of 1.73.

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

Wall Street Analyst Weigh In

MTZ has been the topic of a number of recent research reports. Craig Hallum raised their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. 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 report on Tuesday, January 28th. Guggenheim initiated coverage on shares of MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price on the stock. TD Cowen raised their target price on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Stifel Nicolaus raised their target price on shares of MasTec from $155.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.57.

MasTec Company 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.