LGT Group Foundation Lowers Stock Position in MasTec, Inc. (NYSE:MTZ)

LGT Group Foundation lessened its position in shares of MasTec, Inc. (NYSE:MTZ) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,000 shares of the construction company’s stock after selling 270 shares during the quarter. LGT Group Foundation’s holdings in MasTec were worth $272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in MasTec in the 3rd quarter valued at about $25,000. Ameliora Wealth Management Ltd. acquired a new position in shares of MasTec during the fourth quarter valued at approximately $25,000. Smartleaf Asset Management LLC lifted its position in shares of MasTec by 93.4% in the fourth 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 in the last quarter. Global Retirement Partners LLC boosted its stake in shares of MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after acquiring an additional 190 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of MasTec during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MasTec stock opened at $124.05 on Wednesday. The business’s fifty day simple moving average is $141.39 and its 200-day simple moving average is $131.88. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market cap of $9.83 billion, a PE ratio of 110.76 and a beta of 1.73. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Equities analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on MTZ shares. JPMorgan Chase & Co. raised their price objective on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Truist Financial raised their price target on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Guggenheim began coverage on shares of MasTec in a research note on Wednesday, January 8th. They set a “buy” rating and a $195.00 price objective for the company. Citigroup raised their target price on shares of MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday. Finally, B. Riley restated a “buy” rating and issued a $166.00 price target (up from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, MasTec presently has a consensus rating of “Moderate Buy” and a consensus target price 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.