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

Erste Asset Management GmbH lifted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,285 shares of the construction company’s stock after buying an additional 1,384 shares during the period. Erste Asset Management GmbH’s holdings in MasTec were worth $3,296,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MTZ. Allworth Financial LP lifted its position in MasTec by 15.1% in the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock worth $81,000 after purchasing an additional 78 shares during the period. CIBC Asset Management Inc lifted its position in MasTec by 3.7% in 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 during the period. Arizona State Retirement System lifted its position in MasTec by 0.5% in the fourth quarter. Arizona State Retirement System now owns 18,393 shares of the construction company’s stock worth $2,504,000 after purchasing an additional 89 shares during the period. Coldstream Capital Management Inc. lifted its position in MasTec by 2.8% in the third quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock worth $423,000 after purchasing an additional 94 shares during the period. Finally, Victory Capital Management Inc. lifted its position in MasTec by 0.8% in 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 during the period. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Price Performance

Shares of NYSE:MTZ opened at $120.61 on Friday. MasTec, Inc. has a 12-month low of $82.29 and a 12-month 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 company has a market cap of $9.56 billion, a P/E ratio of 107.69 and a beta of 1.74. The company’s fifty day moving average is $138.29 and its two-hundred day moving average is $131.96.

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

Analysts Set New Price Targets

MTZ has been the subject of a number of research analyst reports. Citigroup upped their target price on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. KeyCorp upped their price target on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Guggenheim began coverage on MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price target on the stock. Truist Financial upped their price target on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Robert W. Baird dropped their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and an average 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.