Harvest Fund Management Co. Ltd Acquires 5,743 Shares of MasTec, Inc. (NYSE:MTZ)

Harvest Fund Management Co. Ltd boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 238.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,156 shares of the construction company’s stock after buying an additional 5,743 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in MasTec were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in shares of MasTec by 65.6% during the 3rd 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 last quarter. Jacobs Levy Equity Management Inc. raised its holdings in MasTec by 266.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock worth $48,928,000 after purchasing an additional 289,090 shares during the period. Point72 Asset Management L.P. lifted 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 valued at $94,096,000 after purchasing an additional 279,778 shares in the last quarter. Barclays PLC lifted its position in MasTec by 642.7% during the third quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock valued at $29,797,000 after purchasing an additional 209,472 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in MasTec during the fourth quarter valued at about $17,776,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Performance

NYSE:MTZ opened at $125.97 on Thursday. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 112.47 and a beta of 1.74. MasTec, Inc. has a 1 year low of $82.29 and a 1 year high of $166.95. The stock’s 50 day simple moving average is $136.38 and its two-hundred day simple moving average is $132.44. 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 announced its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. The company 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, equities analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on MTZ shares. KeyCorp raised their price objective on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Guggenheim initiated coverage on shares of MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 price target on the stock. Robert W. Baird dropped their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Citigroup raised their price objective on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Finally, Truist Financial upped their target price on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.07.

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.