Commonwealth Equity Services LLC Grows Position in MasTec, Inc. (NYSE:MTZ)

Commonwealth Equity Services LLC raised its holdings in shares of 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 fund owned 46,558 shares of the construction company’s stock after purchasing an additional 1,262 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.06% of MasTec worth $6,338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Erste Asset Management GmbH lifted its holdings in MasTec by 6.0% during the fourth quarter. Erste Asset Management GmbH now owns 24,285 shares of the construction company’s stock valued at $3,296,000 after purchasing an additional 1,384 shares during the last quarter. Swiss National Bank lifted its holdings in MasTec by 0.3% during the fourth quarter. Swiss National Bank now owns 124,600 shares of the construction company’s stock valued at $16,963,000 after purchasing an additional 400 shares during the last quarter. Avantax Advisory Services Inc. purchased a new stake in MasTec during the fourth quarter valued at about $490,000. EverSource Wealth Advisors LLC lifted its holdings in MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after purchasing an additional 116 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in MasTec during the fourth quarter valued at about $4,793,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTZ has been the subject of a number of analyst reports. Truist Financial raised their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. KeyCorp raised their price objective on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Robert W. Baird cut their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus cut their price objective on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MasTec currently has a consensus rating of “Moderate Buy” and an average target price of $160.07.

MasTec Trading Down 2.1 %

Shares of MTZ opened at $123.89 on Friday. The company has a market capitalization of $9.82 billion, a P/E ratio of 110.61 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 firm’s 50 day simple moving average is $135.56 and its 200 day simple moving average is $132.48. 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 posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.28 by $0.08. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. Sell-side analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

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.