Resona Asset Management Co. Ltd. Invests $524,000 in MasTec, Inc. (NYSE:MTZ)

Resona Asset Management Co. Ltd. acquired a new position in shares of MasTec, Inc. (NYSE:MTZ) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,854 shares of the construction company’s stock, valued at approximately $524,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MTZ. Wilmington Savings Fund Society FSB purchased a new position in MasTec in the third quarter worth $25,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec in the 4th quarter worth $25,000. EverSource Wealth Advisors LLC grew its stake in MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after buying an additional 116 shares during the last quarter. Smartleaf Asset Management LLC increased its position in MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after buying an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in MasTec by 162.4% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock valued at $42,000 after buying an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Insider Activity at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 21.30% of the company’s stock.

MasTec Stock Performance

Shares of MTZ stock opened at $115.14 on Friday. MasTec, Inc. has a 52-week low of $82.29 and a 52-week high of $166.95. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market cap of $9.13 billion, a PE ratio of 102.80 and a beta of 1.62. The business has a 50-day simple moving average of $125.14 and a 200-day simple moving average of $133.06.

MasTec (NYSE:MTZ) last announced its quarterly 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. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. On average, equities analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MTZ shares. Truist Financial lowered their price target on MasTec from $197.00 to $154.00 and set a “buy” rating for the company in a report on Tuesday. Barclays lifted their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. B. Riley restated a “buy” rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. JPMorgan Chase & Co. lifted their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, Wolfe Research assumed coverage on shares of MasTec in a report on Monday, March 31st. They set a “peer perform” rating on the stock. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.87.

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.