MasTec, Inc. (NYSE:MTZ) Stock Holdings Lifted by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its position in shares of MasTec, Inc. (NYSE:MTZ) by 11.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,511 shares of the construction company’s stock after purchasing an additional 3,750 shares during the period. Advisors Asset Management Inc.’s holdings in MasTec were worth $5,107,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Ameliora Wealth Management Ltd. acquired a new position in MasTec during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC lifted its holdings in MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after purchasing an additional 116 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in MasTec during the third quarter worth approximately $25,000. Smartleaf Asset Management LLC grew its holdings in MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after purchasing an additional 128 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock valued at $42,000 after purchasing an additional 190 shares during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Robert W. Baird lowered their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Truist Financial boosted their price objective on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Guggenheim initiated coverage on MasTec in a research report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price target on the stock. Finally, Barclays increased their price objective on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $160.07.

MasTec Stock Performance

MasTec stock opened at $125.97 on Thursday. The firm has a market capitalization of $9.99 billion, a P/E ratio of 112.47 and a beta of 1.74. The stock has a fifty day moving average price of $136.38 and a two-hundred day moving average price of $132.44. MasTec, Inc. has a 52-week low of $82.29 and a 52-week high of $166.95. 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 earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. The business had revenue of $3.40 billion during 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, analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

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.