MasTec, Inc. (NYSE:MTZ) Shares Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH boosted its position in MasTec, Inc. (NYSE:MTZ) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,285 shares of the construction company’s stock after acquiring an additional 1,384 shares during the quarter. Erste Asset Management GmbH’s holdings in MasTec were worth $3,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atria Investments Inc acquired a new position in shares of MasTec during the third quarter worth about $302,000. Victory Capital Management Inc. lifted its stake in shares of MasTec by 0.8% during the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after purchasing an additional 101 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of MasTec by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock worth $281,000 after purchasing an additional 82 shares in the last quarter. Chesapeake Capital Corp IL lifted its stake in shares of MasTec by 38.7% during the third quarter. Chesapeake Capital Corp IL now owns 3,910 shares of the construction company’s stock worth $480,000 after purchasing an additional 1,090 shares in the last quarter. Finally, Claro Advisors LLC acquired a new position in shares of MasTec during the third quarter worth about $230,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MTZ stock opened at $120.61 on Friday. 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 business has a 50 day moving average of $138.29 and a two-hundred day moving average of $131.96. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95. The company has a market cap of $9.56 billion, a P/E ratio of 107.69 and a beta of 1.74.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 27th. The construction company reported $1.36 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. As a group, analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on MTZ. Robert W. Baird reduced their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Guggenheim began 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. Stifel Nicolaus dropped their target price on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Barclays lifted their target price on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.