Alps Advisors Inc. Grows Stake in MasTec, Inc. $MTZ

Alps Advisors Inc. raised its position in shares of MasTec, Inc. (NYSE:MTZ) by 71.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,625 shares of the construction company’s stock after purchasing an additional 1,935 shares during the quarter. Alps Advisors Inc.’s holdings in MasTec were worth $984,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MTZ. Brighton Jones LLC bought a new position in shares of MasTec during the 4th quarter valued at $227,000. NewEdge Advisors LLC grew its position in shares of MasTec by 32.6% during the first quarter. NewEdge Advisors LLC now owns 4,408 shares of the construction company’s stock worth $514,000 after purchasing an additional 1,083 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in MasTec during the 2nd quarter valued at approximately $271,000. Janney Montgomery Scott LLC increased its holdings in MasTec by 25.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 5,468 shares of the construction company’s stock valued at $932,000 after acquiring an additional 1,125 shares during the last quarter. Finally, Truist Financial Corp bought a new stake in shares of MasTec in the second quarter worth about $420,000. Institutional investors own 78.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MTZ. Truist Financial boosted their price target on shares of MasTec from $253.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Mizuho set a $254.00 price objective on shares of MasTec in a research report on Monday, November 3rd. Zacks Research upgraded MasTec from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Citigroup boosted their price target on MasTec from $248.00 to $284.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Stifel Nicolaus increased their target price on shares of MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $238.16.

MasTec Stock Up 1.1%

Shares of NYSE:MTZ opened at $264.21 on Thursday. The firm has a market capitalization of $20.85 billion, a PE ratio of 62.76 and a beta of 1.94. MasTec, Inc. has a 1 year low of $99.70 and a 1 year high of $276.79. 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 firm’s 50-day moving average is $232.41 and its two-hundred day moving average is $208.63.

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.