Prudential Financial Inc. Has $55.16 Million Position in MasTec, Inc. (NYSE:MTZ)

Prudential Financial Inc. increased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 52.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 405,187 shares of the construction company’s stock after buying an additional 139,235 shares during the period. Prudential Financial Inc.’s holdings in MasTec were worth $55,162,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new position in shares of MasTec during the third quarter valued at $25,000. Ameliora Wealth Management Ltd. bought a new position in MasTec during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC lifted its holdings in MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock worth $25,000 after buying an additional 116 shares during the period. Smartleaf Asset Management LLC grew its position in shares of MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after buying an additional 128 shares during the last quarter. Finally, Global Retirement Partners LLC increased 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 valued at $42,000 after buying an additional 190 shares during the period. 78.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MTZ. KeyCorp lifted their price objective on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Stifel Nicolaus reduced their price objective on shares of MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Robert W. Baird decreased their price objective 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. Guggenheim initiated coverage on shares of MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Two research 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 stock. According to data from MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

MasTec Trading Up 6.4 %

NYSE MTZ opened at $131.93 on Tuesday. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95. The business has a 50 day moving average price of $135.32 and a 200-day moving average price of $133.09. 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 company has a market cap of $10.46 billion, a price-to-earnings ratio of 117.80 and a beta of 1.74.

MasTec (NYSE:MTZ) last released 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. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. As a group, equities analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal 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.