MasTec, Inc. (NYSE:MTZ) Stake Boosted by First Washington CORP

First Washington CORP increased its holdings in MasTec, Inc. (NYSE:MTZ) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,439 shares of the construction company’s stock after acquiring an additional 947 shares during the quarter. MasTec makes up about 2.6% of First Washington CORP’s investment portfolio, making the stock its 9th largest position. First Washington CORP owned approximately 0.08% of MasTec worth $6,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MTZ. Electron Capital Partners LLC lifted its stake in shares of MasTec by 16.1% during the 4th quarter. Electron Capital Partners LLC now owns 1,725,209 shares of the construction company’s stock worth $130,633,000 after purchasing an additional 238,874 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of MasTec by 42.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after buying an additional 312,991 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of MasTec by 96.4% in the 4th quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock valued at $77,439,000 after buying an additional 502,039 shares in the last quarter. Norges Bank purchased a new position in shares of MasTec in the 4th quarter worth approximately $46,970,000. Finally, Schroder Investment Management Group raised its stake in shares of MasTec by 95.0% during the 4th quarter. Schroder Investment Management Group now owns 614,839 shares of the construction company’s stock worth $46,556,000 after acquiring an additional 299,567 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

MasTec Stock Performance

MTZ opened at $116.59 on Wednesday. The firm’s fifty day simple moving average is $107.57 and its two-hundred day simple moving average is $101.84. MasTec, Inc. has a 52-week low of $44.65 and a 52-week high of $116.67. The company has a market cap of $9.26 billion, a price-to-earnings ratio of -832.79 and a beta of 1.70. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the company posted $0.81 EPS. MasTec’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. B. Riley raised their target price on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. DA Davidson raised their price target on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group upped their price objective on shares of MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Stifel Nicolaus lifted their target price on shares of MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Truist Financial reissued a “hold” rating and set a $112.00 target price (up previously from $109.00) on shares of MasTec in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $117.50.

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.