AlphaQuest LLC Trims Holdings in MasTec, Inc. $MTZ

AlphaQuest LLC lessened its stake in shares of MasTec, Inc. (NYSE:MTZ) by 88.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 919 shares of the construction company’s stock after selling 6,997 shares during the period. AlphaQuest LLC’s holdings in MasTec were worth $196,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of MasTec by 92.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 65,027 shares of the construction company’s stock worth $13,981,000 after acquiring an additional 31,218 shares in the last quarter. Bridge City Capital LLC raised its stake in shares of MasTec by 27.2% in the 2nd quarter. Bridge City Capital LLC now owns 49,357 shares of the construction company’s stock valued at $8,412,000 after acquiring an additional 10,565 shares in the last quarter. Schroder Investment Management Group acquired a new stake in MasTec in the 2nd quarter worth approximately $12,366,000. Sterling Capital Management LLC boosted its position in MasTec by 16.3% during the second quarter. Sterling Capital Management LLC now owns 79,049 shares of the construction company’s stock worth $13,472,000 after purchasing an additional 11,071 shares during the period. Finally, Osaic Holdings Inc. boosted its position in MasTec by 71.6% during the second quarter. Osaic Holdings Inc. now owns 30,118 shares of the construction company’s stock worth $5,132,000 after purchasing an additional 12,567 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MTZ. Guggenheim reaffirmed a “neutral” rating and set a $215.00 target price on shares of MasTec in a research report on Wednesday, October 15th. Truist Financial increased their target price on shares of MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. KeyCorp restated an “overweight” rating and set a $264.00 price target on shares of MasTec in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MasTec in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their price objective on MasTec from $214.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, MasTec presently has an average rating of “Buy” and a consensus price target of $238.16.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $264.21 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. The business’s fifty day moving average price is $232.41 and its two-hundred day moving average price is $208.63. MasTec, Inc. has a fifty-two week low of $99.70 and a fifty-two week high of $276.79. The stock has a market capitalization of $20.85 billion, a price-to-earnings ratio of 62.76 and a beta of 1.94.

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.