35,204 Shares in MasTec, Inc. (NYSE:MTZ) Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC bought a new position in MasTec, Inc. (NYSE:MTZ) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 35,204 shares of the construction company’s stock, valued at approximately $4,793,000.

Several other large investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after purchasing an additional 895,227 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in MasTec by 266.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock valued at $48,928,000 after purchasing an additional 289,090 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in MasTec by 57.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after purchasing an additional 279,778 shares in the last quarter. Barclays PLC increased its holdings in MasTec by 642.7% in the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock valued at $29,797,000 after purchasing an additional 209,472 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in MasTec in the 4th quarter valued at $17,776,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Performance

Shares of MTZ stock opened at $118.17 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 one year low of $82.29 and a one year high of $166.95. The company’s 50-day simple moving average is $139.12 and its 200-day simple moving average is $132.16. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 105.51 and a beta of 1.74.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.32 billion. Equities analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on MTZ shares. Robert W. Baird lowered their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. KeyCorp increased 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. Citigroup raised 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. Finally, Stifel Nicolaus lowered 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 investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.14.

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.