Globeflex Capital L P Buys New Holdings in MasTec, Inc. (NYSE:MTZ)

Globeflex Capital L P bought a new stake in MasTec, Inc. (NYSE:MTZ) during the fourth quarter, Holdings Channel reports. The fund bought 1,000 shares of the construction company’s stock, valued at approximately $136,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTZ. Pacer Advisors Inc. raised its position in MasTec by 65.6% in the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after purchasing an additional 895,227 shares during the period. State Street Corp raised its position 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 purchasing an additional 24,522 shares during the period. Geode Capital Management LLC raised its position in MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares during the period. Point72 Asset Management L.P. raised its position in MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after purchasing an additional 279,778 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in MasTec by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock valued at $77,592,000 after purchasing an additional 7,469 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Up 3.5 %

NYSE:MTZ opened at $120.61 on Friday. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 107.69 and a beta of 1.74. MasTec, Inc. has a one year low of $82.29 and a one year high of $166.95. The stock has a 50-day simple moving average of $137.76 and a 200 day simple moving average of $132.18. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 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 during the quarter, compared to the consensus estimate of $3.32 billion. Sell-side analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on MTZ shares. 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. Citigroup lifted their target price on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Guggenheim started coverage on MasTec in a research report on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price on the stock. Truist Financial lifted their target price on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their target price on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $160.14.

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.