Quantbot Technologies LP Boosts Holdings in MasTec, Inc. (NYSE:MTZ)

Quantbot Technologies LP grew its position in shares of MasTec, Inc. (NYSE:MTZ) by 177.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,125 shares of the construction company’s stock after buying an additional 5,831 shares during the period. Quantbot Technologies LP’s holdings in MasTec were worth $1,242,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in shares of MasTec by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock worth $1,583,000 after buying an additional 101 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in MasTec by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after acquiring an additional 7,469 shares in the last quarter. Raymond James Trust N.A. acquired a new stake in MasTec in the third quarter valued at $276,000. Cerity Partners LLC boosted its position in shares of MasTec by 285.4% during the 3rd quarter. Cerity Partners LLC now owns 23,151 shares of the construction company’s stock worth $2,850,000 after purchasing an additional 17,144 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of MasTec by 43.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 65,300 shares of the construction company’s stock worth $8,038,000 after purchasing an additional 19,800 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MTZ. B. Riley reiterated a “buy” rating and issued a $165.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Robert W. Baird reduced their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Citigroup upped their price target on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. KeyCorp lifted their price objective on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, Truist Financial upped their target price on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s 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

Shares of NYSE MTZ opened at $128.46 on Wednesday. The company has a 50-day simple moving average of $134.87 and a 200-day simple moving average of $133.31. 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 company has a market cap of $10.19 billion, a PE ratio of 114.70 and a beta of 1.74. MasTec, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95.

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 firm 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, equities analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

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.