LGT Fund Management Co Ltd. Purchases 2,584 Shares of MasTec, Inc. (NYSE:MTZ)

LGT Fund Management Co Ltd. lifted its position in shares of MasTec, Inc. (NYSE:MTZ) by 130.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,572 shares of the construction company’s stock after acquiring an additional 2,584 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in MasTec were worth $622,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec during the third quarter worth $25,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec during the fourth quarter worth $25,000. Smartleaf Asset Management LLC grew its stake in shares of MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after purchasing an additional 128 shares during the period. Global Retirement Partners LLC grew its stake in shares of MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after purchasing an additional 190 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of MasTec during the fourth quarter worth $44,000. Institutional investors own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MTZ shares. JPMorgan Chase & Co. lifted their price objective on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. 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. TD Cowen lifted their price objective on MasTec from $115.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Truist Financial boosted their target price on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Robert W. Baird decreased their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $159.07.

MasTec Stock Down 2.3 %

MTZ stock opened at $127.56 on Tuesday. 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 stock has a market capitalization of $10.11 billion, a P/E ratio of 113.89 and a beta of 1.73. The business has a 50-day moving average of $141.60 and a 200-day moving average of $131.76. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week high of $166.95.

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 return on equity of 8.27% and a net margin of 0.73%. On average, sell-side analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal 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.