Meiji Yasuda Asset Management Co Ltd. Acquires New Stake in MasTec, Inc. (NYSE:MTZ)

Meiji Yasuda Asset Management Co Ltd. bought a new position in MasTec, Inc. (NYSE:MTZ) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,514 shares of the construction company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of MasTec in the 3rd quarter valued at $25,000. Ameliora Wealth Management Ltd. purchased a new position in MasTec in the 4th quarter worth $25,000. EverSource Wealth Advisors LLC lifted its holdings 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 purchasing an additional 116 shares during the period. Smartleaf Asset Management LLC lifted its stake in 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 acquiring an additional 128 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock valued at $42,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

Insider Transactions at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the transaction, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

MTZ has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. KeyCorp boosted their price target on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. B. Riley reiterated a “buy” rating and set a $165.00 price target (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Finally, Citigroup lifted their price target on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.07.

MasTec Stock Down 3.0 %

MTZ opened at $115.22 on Friday. MasTec, Inc. has a 12 month low of $82.29 and a 12 month 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 has a 50-day moving average of $132.73 and a two-hundred day moving average of $133.23. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 102.87 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 company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. On average, research analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

About MasTec

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.