MONECO Advisors LLC Acquires 150 Shares of MasTec, Inc. (NYSE:MTZ)

MONECO Advisors LLC raised its holdings in MasTec, Inc. (NYSE:MTZ) by 4.8% in the fourth quarter, Holdings Channel reports. The firm owned 3,293 shares of the construction company’s stock after purchasing an additional 150 shares during the period. MONECO Advisors LLC’s holdings in MasTec were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Retirement Systems of Alabama boosted its stake in MasTec by 16.1% in the fourth quarter. Retirement Systems of Alabama now owns 183,689 shares of the construction company’s stock valued at $13,909,000 after acquiring an additional 25,534 shares during the last quarter. Bruni J V & Co. Co. lifted its stake in MasTec by 2.2% in the fourth quarter. Bruni J V & Co. Co. now owns 237,975 shares of the construction company’s stock valued at $18,019,000 after purchasing an additional 5,189 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in MasTec by 23.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 45,842 shares of the construction company’s stock valued at $3,471,000 after purchasing an additional 8,689 shares during the last quarter. Sycomore Asset Management purchased a new stake in MasTec in the fourth quarter worth $965,000. Finally, Cetera Trust Company N.A purchased a new stake in MasTec in the fourth quarter worth $160,000. Institutional investors own 78.10% of the company’s stock.

MasTec Trading Down 0.3 %

NYSE:MTZ opened at $88.42 on Thursday. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $123.33. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.36 and a current ratio of 1.40. The business has a 50 day moving average of $86.96 and a 200 day moving average of $72.64.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. As a group, research analysts anticipate that MasTec, Inc. will post 2.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Citigroup boosted their price objective on MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Truist Financial initiated coverage on shares of MasTec in a report on Thursday, March 14th. They issued a “hold” rating and a $96.00 price target on the stock. The Goldman Sachs Group boosted their price objective on shares of MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Robert W. Baird upped their price target on shares of MasTec from $70.00 to $89.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Finally, Craig Hallum upgraded MasTec from a “hold” rating to a “buy” rating and upped their target price for the stock from $50.00 to $96.00 in a research note on Monday, March 4th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.