Daiwa Securities Group Inc. Purchases 5,200 Shares of MasTec, Inc. (NYSE:MTZ)

Daiwa Securities Group Inc. lifted its position in shares of MasTec, Inc. (NYSE:MTZ) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,500 shares of the construction company’s stock after acquiring an additional 5,200 shares during the period. Daiwa Securities Group Inc. owned approximately 0.09% of MasTec worth $9,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MTZ. New York State Teachers Retirement System lifted its stake in MasTec by 21.7% during the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after purchasing an additional 5,750 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of MasTec by 45.8% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after buying an additional 8,948 shares in the last quarter. Atom Investors LP lifted its position in shares of MasTec by 979.0% during the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock worth $7,511,000 after buying an additional 55,363 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in MasTec by 286.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock valued at $2,433,000 after buying an additional 13,241 shares in the last quarter. Finally, State Street Corp grew its position in MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after acquiring an additional 24,522 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Performance

NYSE:MTZ opened at $114.66 on Wednesday. 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 fifty-two week low of $82.29 and a fifty-two week high of $166.95. The company has a 50 day simple moving average of $139.55 and a two-hundred day simple moving average of $132.14. The company has a market capitalization of $9.09 billion, a PE ratio of 102.38 and a beta of 1.74.

MasTec (NYSE:MTZ) last posted its quarterly earnings data 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. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. Research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. KeyCorp increased their target price on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Truist Financial increased their price objective on shares of MasTec from $173.00 to $189.00 and gave the company 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 target price on the stock. Citigroup increased their price target 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 reduced their price objective on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $160.14.

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.