Proficio Capital Partners LLC Invests $5.17 Million in MasTec, Inc. (NYSE:MTZ)

Proficio Capital Partners LLC bought a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 37,983 shares of the construction company’s stock, valued at approximately $5,171,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning boosted its holdings in shares of MasTec by 9.5% in the third quarter. Creative Planning now owns 2,909 shares of the construction company’s stock worth $358,000 after buying an additional 253 shares during the period. Private Advisor Group LLC lifted its position in shares of MasTec by 89.6% in the 3rd quarter. Private Advisor Group LLC now owns 3,956 shares of the construction company’s stock valued at $487,000 after acquiring an additional 1,869 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in MasTec in the 3rd quarter worth approximately $84,000. Wealth Enhancement Advisory Services LLC grew its position in MasTec by 239.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,157 shares of the construction company’s stock worth $1,127,000 after purchasing an additional 6,462 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in MasTec by 7.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,013 shares of the construction company’s stock valued at $863,000 after purchasing an additional 485 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Analyst Ratings Changes

MTZ has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their price target on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday. Craig Hallum lifted their target price on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Truist Financial increased their price target on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. TD Cowen boosted their price objective on shares of MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, B. Riley reiterated a “buy” rating and issued a $166.00 target price (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $159.07.

MasTec Stock Down 2.3 %

MTZ stock opened at $127.56 on Tuesday. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 113.89 and a beta of 1.73. The company has a 50-day moving average of $141.60 and a two-hundred day moving average of $131.76. MasTec, Inc. has a 52-week low of $82.29 and a 52-week high of $166.95. 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 (NYSE:MTZ) last released its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. As a group, equities research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

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.