Thrivent Financial for Lutherans Raises Position in MasTec, Inc. $MTZ

Thrivent Financial for Lutherans grew its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 14.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,593 shares of the construction company’s stock after acquiring an additional 2,158 shares during the period. Thrivent Financial for Lutherans’ holdings in MasTec were worth $3,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in MasTec by 4.1% in the second quarter. Vanguard Group Inc. now owns 5,972,293 shares of the construction company’s stock worth $1,017,858,000 after buying an additional 234,594 shares in the last quarter. Invesco Ltd. grew its stake in shares of MasTec by 6.1% during the 2nd quarter. Invesco Ltd. now owns 1,765,049 shares of the construction company’s stock valued at $300,817,000 after acquiring an additional 102,072 shares during the period. Hood River Capital Management LLC increased its holdings in MasTec by 8.9% in the 2nd quarter. Hood River Capital Management LLC now owns 1,692,656 shares of the construction company’s stock worth $288,479,000 after acquiring an additional 138,269 shares in the last quarter. AQR Capital Management LLC increased its holdings in MasTec by 11.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,072,253 shares of the construction company’s stock worth $181,961,000 after acquiring an additional 108,504 shares in the last quarter. Finally, Electron Capital Partners LLC raised its stake in MasTec by 2.0% during the 2nd quarter. Electron Capital Partners LLC now owns 747,333 shares of the construction company’s stock worth $127,368,000 after acquiring an additional 14,504 shares during the period. 78.10% of the stock is owned by institutional investors.

MasTec Trading Up 5.7%

Shares of MTZ stock opened at $258.82 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $20.42 billion, a price-to-earnings ratio of 61.48 and a beta of 1.94. MasTec, Inc. has a 12-month low of $99.70 and a 12-month high of $260.25. The stock’s 50-day moving average price is $229.51 and its 200-day moving average price is $207.14.

Wall Street Analysts Forecast Growth

MTZ has been the subject of a number of analyst reports. Stifel Nicolaus increased their price objective on shares of MasTec from $240.00 to $267.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Mizuho set a $254.00 price target on MasTec in a research note on Monday, November 3rd. Cantor Fitzgerald assumed coverage on MasTec in a research report on Friday, January 23rd. They issued an “overweight” rating and a $274.00 price objective on the stock. KeyCorp reaffirmed an “overweight” rating and issued a $264.00 price objective on shares of MasTec in a research note on Wednesday, January 7th. Finally, Guggenheim reissued a “neutral” rating and set a $215.00 target price on shares of MasTec in a research note on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, MasTec currently has an average rating of “Buy” and a consensus price target of $238.16.

MasTec Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.