Advisors Asset Management Inc. Has $5.11 Million Stock Position in MasTec, Inc. (NYSE:MTZ)

Advisors Asset Management Inc. raised its stake in MasTec, Inc. (NYSE:MTZ) by 11.1% in the 4th quarter, HoldingsChannel reports. The fund owned 37,511 shares of the construction company’s stock after buying an additional 3,750 shares during the quarter. Advisors Asset Management Inc.’s holdings in MasTec were worth $5,107,000 at the end of the most recent reporting period.

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

MasTec Stock Performance

Shares of MTZ stock opened at $125.97 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95. The company’s 50 day moving average price is $136.38 and its two-hundred day moving average price is $132.44. The company has a market capitalization of $9.99 billion, a P/E ratio of 112.47 and a beta of 1.74.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. On average, 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 reports. JPMorgan Chase & Co. lifted their price objective on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Citigroup lifted their price target on shares of MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. B. Riley restated a “buy” rating and issued a $165.00 price objective (up from $151.00) on shares of MasTec in a report on Wednesday. Truist Financial upped their target price on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Guggenheim began coverage on MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price target on the stock. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.07.

MasTec 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.