Asset Management One Co. Ltd. Grows Position in MasTec, Inc. (NYSE:MTZ)

Asset Management One Co. Ltd. increased its holdings in MasTec, Inc. (NYSE:MTZ) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,381 shares of the construction company’s stock after acquiring an additional 4,229 shares during the quarter. Asset Management One Co. Ltd.’s holdings in MasTec were worth $3,355,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans lifted its stake in MasTec by 0.9% in the third quarter. Thrivent Financial for Lutherans now owns 15,124 shares of the construction company’s stock worth $960,000 after acquiring an additional 132 shares during the period. Covestor Ltd lifted its position in shares of MasTec by 40.1% during the first quarter. Covestor Ltd now owns 507 shares of the construction company’s stock valued at $44,000 after buying an additional 145 shares during the last quarter. Sheets Smith Wealth Management lifted its position in shares of MasTec by 0.9% during the third quarter. Sheets Smith Wealth Management now owns 20,160 shares of the construction company’s stock valued at $1,451,000 after buying an additional 185 shares during the last quarter. Belpointe Asset Management LLC lifted its position in shares of MasTec by 7.9% during the first quarter. Belpointe Asset Management LLC now owns 2,541 shares of the construction company’s stock valued at $240,000 after buying an additional 185 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of MasTec by 12.7% during the second quarter. Captrust Financial Advisors now owns 1,796 shares of the construction company’s stock valued at $129,000 after buying an additional 203 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Price Performance

Shares of NYSE:MTZ opened at $91.91 on Friday. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $123.33. The company’s 50 day moving average is $82.63 and its 200 day moving average is $70.98. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.06. The company has a market cap of $7.31 billion, a PE ratio of -139.26 and a beta of 1.62.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.20. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. On average, sell-side analysts forecast that MasTec, Inc. will post 2.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on MTZ. TD Cowen increased their price target on shares of MasTec from $85.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Robert W. Baird increased their price target on shares of MasTec from $70.00 to $89.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. DA Davidson reissued a “buy” rating and set a $70.00 price target on shares of MasTec in a research report on Monday, March 4th. KeyCorp upped their price objective on shares of MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, The Goldman Sachs Group upped their price objective on shares of MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, MasTec has an average rating of “Moderate Buy” and an average price target of $96.46.

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.