Farrow Financial Inc. Decreases Stock Position in MasTec, Inc. (NYSE:MTZ)

Farrow Financial Inc. lessened its stake in MasTec, Inc. (NYSE:MTZ) by 16.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,732 shares of the construction company’s stock after selling 4,785 shares during the quarter. MasTec comprises about 2.2% of Farrow Financial Inc.’s holdings, making the stock its 11th largest holding. Farrow Financial Inc.’s holdings in MasTec were worth $3,359,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in MasTec in the 3rd quarter worth approximately $25,000. Ameliora Wealth Management Ltd. purchased a new position in shares of MasTec during the 4th quarter valued at approximately $25,000. Smartleaf Asset Management LLC boosted its stake in shares of 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 during the last quarter. Global Retirement Partners LLC boosted its stake in shares of 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 during the last quarter. Finally, R Squared Ltd purchased a new position in shares of MasTec during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Price Performance

Shares of NYSE MTZ opened at $115.33 on Friday. MasTec, Inc. has a 1-year low of $82.29 and a 1-year 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. The business’s fifty day moving average price is $140.09 and its two-hundred day moving average price is $131.87. The firm has a market capitalization of $9.14 billion, a PE ratio of 102.97 and a beta of 1.74.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, research analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MTZ. Barclays increased their target price on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Citigroup increased their target price on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Truist Financial increased their target price on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. increased their target price on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus reduced their target price on MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.