Quantbot Technologies LP Raises Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Quantbot Technologies LP raised its stake in MasTec, Inc. (NYSE:MTZ) by 177.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,125 shares of the construction company’s stock after buying an additional 5,831 shares during the quarter. Quantbot Technologies LP’s holdings in MasTec were worth $1,242,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Allworth Financial LP raised its stake in shares of MasTec by 15.1% in the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock valued at $81,000 after acquiring an additional 78 shares in the last quarter. Arizona State Retirement System raised its position in MasTec by 0.5% in the 4th quarter. Arizona State Retirement System now owns 18,393 shares of the construction company’s stock valued at $2,504,000 after purchasing an additional 89 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of MasTec by 2.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock valued at $423,000 after buying an additional 94 shares during the period. Victory Capital Management Inc. boosted its stake in shares of MasTec by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company’s stock valued at $1,583,000 after buying an additional 101 shares during the period. Finally, Fielder Capital Group LLC grew its position in shares of MasTec by 6.1% during the fourth quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company’s stock worth $247,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MTZ opened at $128.46 on Wednesday. The company’s 50 day simple moving average is $134.87 and its 200-day simple moving average is $133.31. The firm has a market cap of $10.19 billion, a PE ratio of 114.70 and a beta of 1.74. MasTec, Inc. has a 12-month low of $82.29 and a 12-month high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. As a group, equities analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MTZ shares. Stifel Nicolaus reduced their target price on shares of MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. B. Riley restated a “buy” rating and issued a $165.00 price objective (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. JPMorgan Chase & Co. boosted their target price on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Barclays raised their price target on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Finally, Citigroup upped their price objective on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.07.

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.