MasTec, Inc. (NYSE:MTZ) Shares Acquired by Sheets Smith Wealth Management

Sheets Smith Wealth Management increased its stake in MasTec, Inc. (NYSE:MTZ) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,410 shares of the construction company’s stock after purchasing an additional 250 shares during the quarter. Sheets Smith Wealth Management’s holdings in MasTec were worth $1,545,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB lifted its stake in MasTec by 35.0% during the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock valued at $297,006,000 after buying an additional 1,027,085 shares in the last quarter. CI Investments Inc. increased its holdings in shares of MasTec by 44,834.1% in the 3rd quarter. CI Investments Inc. now owns 798,029 shares of the construction company’s stock valued at $57,434,000 after purchasing an additional 796,253 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in shares of MasTec by 7,110.3% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 359,144 shares of the construction company’s stock valued at $25,848,000 after purchasing an additional 354,163 shares during the period. Schroder Investment Management Group increased its holdings in MasTec by 142.0% in the third quarter. Schroder Investment Management Group now owns 315,272 shares of the construction company’s stock worth $22,690,000 after buying an additional 185,020 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in MasTec in the third quarter worth approximately $11,609,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Trading Up 11.9 %

Shares of MTZ stock traded up $10.80 on Friday, reaching $101.80. The company had a trading volume of 2,348,086 shares, compared to its average volume of 725,942. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.06. The stock has a market cap of $8.09 billion, a PE ratio of -727.14 and a beta of 1.61. The company has a 50-day moving average of $87.95 and a 200-day moving average of $73.09. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $123.33.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. MasTec had a positive return on equity of 6.18% and a negative net margin of 0.09%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.26 billion. On average, equities analysts forecast that MasTec, Inc. will post 2.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MTZ shares. DA Davidson reaffirmed a “buy” rating and issued a $70.00 target price on shares of MasTec in a report on Monday, March 4th. UBS Group boosted their target price on shares of MasTec from $89.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Robert W. Baird boosted their target price on shares of MasTec from $70.00 to $89.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Craig Hallum raised shares of MasTec from a “hold” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $96.00 in a research report on Monday, March 4th. Finally, The Goldman Sachs Group boosted their target price on shares of MasTec from $54.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and an average target price of $96.85.

MasTec Company Profile

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.