Envestnet Asset Management Inc. Purchases 13,208 Shares of MasTec, Inc. $MTZ

Envestnet Asset Management Inc. increased its position in MasTec, Inc. (NYSE:MTZ) by 25.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,313 shares of the construction company’s stock after buying an additional 13,208 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of MasTec worth $13,899,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Qube Research & Technologies Ltd raised its stake in shares of MasTec by 370.0% during the second quarter. Qube Research & Technologies Ltd now owns 506,857 shares of the construction company’s stock valued at $86,384,000 after acquiring an additional 399,007 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in MasTec during the 3rd quarter valued at about $50,904,000. Vanguard Group Inc. raised its position in MasTec by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,972,293 shares of the construction company’s stock valued at $1,017,858,000 after purchasing an additional 234,594 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in MasTec by 42.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 555,486 shares of the construction company’s stock worth $94,672,000 after buying an additional 164,722 shares during the period. Finally, Hood River Capital Management LLC lifted 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 buying an additional 138,269 shares during the period. Institutional investors own 78.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial upped their target price on MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, December 18th. KeyCorp reissued an “overweight” rating and set a $264.00 price objective on shares of MasTec in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MasTec in a research report on Monday, December 29th. Mizuho set a $254.00 price target on shares of MasTec in a research report on Monday, November 3rd. Finally, Cantor Fitzgerald started coverage on shares of MasTec in a research note on Friday, January 23rd. They issued an “overweight” rating and a $274.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $238.16.

MasTec Price Performance

Shares of NYSE:MTZ opened at $269.88 on Tuesday. The business has a fifty day moving average price of $235.31 and a 200-day moving average price of $210.45. 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 company has a market capitalization of $21.29 billion, a PE ratio of 64.11 and a beta of 1.94. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $276.79.

About MasTec

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.