Picton Mahoney Asset Management Invests $433,000 in MasTec, Inc. (NYSE:MTZ)

Picton Mahoney Asset Management purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,719 shares of the construction company’s stock, valued at approximately $433,000.

Several other hedge funds have also bought and sold shares of MTZ. Raymond James & Associates grew its stake in shares of MasTec by 2.3% in the third quarter. Raymond James & Associates now owns 86,771 shares of the construction company’s stock worth $6,245,000 after acquiring an additional 1,912 shares during the last quarter. Bank of New York Mellon Corp increased its stake in MasTec by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 537,773 shares of the construction company’s stock valued at $38,704,000 after purchasing an additional 5,059 shares in the last quarter. Strs Ohio raised its holdings in MasTec by 30.1% in the third quarter. Strs Ohio now owns 17,859 shares of the construction company’s stock worth $1,285,000 after buying an additional 4,137 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of MasTec by 9.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 415,190 shares of the construction company’s stock worth $29,881,000 after buying an additional 35,997 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in shares of MasTec during the third quarter valued at approximately $245,000. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Down 0.5 %

MTZ opened at $105.17 on Thursday. The firm’s 50 day simple moving average is $89.87 and its two-hundred day simple moving average is $73.92. The company has a market capitalization of $8.36 billion, a PE ratio of -751.21 and a beta of 1.61. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $123.33. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. As a group, equities analysts forecast that MasTec, Inc. will post 2.33 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Robert W. Baird increased their price objective on MasTec from $89.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday. Stifel Nicolaus lifted their price objective on MasTec from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Monday. Craig Hallum upped their target price on shares of MasTec from $96.00 to $125.00 and gave the company a “buy” rating in a research note on Monday. Finally, Barclays lifted their price target on shares of MasTec from $106.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $111.08.

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.