Bruni J V & Co. Co. Boosts Stake in MasTec, Inc. (NYSE:MTZ)

Bruni J V & Co. Co. raised its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 2.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 237,975 shares of the construction company’s stock after purchasing an additional 5,189 shares during the quarter. MasTec accounts for about 2.2% of Bruni J V & Co. Co.’s portfolio, making the stock its 23rd largest position. Bruni J V & Co. Co.’s holdings in MasTec were worth $18,019,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vontobel Holding Ltd. increased its stake in MasTec by 16.2% in the fourth quarter. Vontobel Holding Ltd. now owns 1,036,101 shares of the construction company’s stock worth $78,454,000 after purchasing an additional 144,180 shares during the period. Vanguard Group Inc. lifted its holdings in MasTec by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock valued at $429,670,000 after buying an additional 33,592 shares in the last quarter. Oak Thistle LLC purchased a new stake in MasTec in the 4th quarter valued at about $883,000. Nordea Investment Management AB grew its stake in MasTec by 35.0% in the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after acquiring an additional 1,027,085 shares in the last quarter. Finally, Sycomore Asset Management bought a new stake in shares of MasTec during the fourth quarter valued at approximately $965,000. Institutional investors own 78.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MTZ shares. Barclays lifted their target price on MasTec from $55.00 to $106.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Citigroup raised their target price on shares of MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. DA Davidson reaffirmed a “buy” rating and issued a $70.00 price target on shares of MasTec in a research report on Monday, March 4th. Robert W. Baird increased their price objective on shares of MasTec from $70.00 to $89.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Finally, Truist Financial started coverage on shares of MasTec in a research note on Thursday, March 14th. They issued a “hold” rating and a $96.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.85.

MasTec Trading Up 3.3 %

Shares of MTZ stock traded up $2.86 during trading hours on Friday, reaching $89.04. 536,297 shares of the company’s stock were exchanged, compared to its average volume of 628,061. The stock’s fifty day moving average price is $85.84 and its two-hundred day moving average price is $72.15. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.36. MasTec, Inc. has a 1 year low of $44.65 and a 1 year high of $123.33.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.20. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a positive return on equity of 4.82% and a negative net margin of 0.42%. As a group, equities research analysts expect that MasTec, Inc. will post 2.33 EPS for the current year.

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.