Meiji Yasuda Asset Management Co Ltd. Buys New Shares in MasTec, Inc. (NYSE:MTZ)

Meiji Yasuda Asset Management Co Ltd. purchased a new position in MasTec, Inc. (NYSE:MTZ) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,514 shares of the construction company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. New York State Teachers Retirement System grew its position in MasTec by 21.7% during the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock worth $4,398,000 after buying an additional 5,750 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of MasTec by 45.8% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after buying an additional 8,948 shares in the last quarter. Atom Investors LP raised its position in MasTec by 979.0% in the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock valued at $7,511,000 after purchasing an additional 55,363 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of MasTec by 286.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock valued at $2,433,000 after buying an additional 13,241 shares during the last quarter. Finally, State Street Corp raised its stake in shares of MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after acquiring an additional 24,522 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

Insider Activity

In related news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 21.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Truist Financial raised their target price on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup increased their price target on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. JPMorgan Chase & Co. raised their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Barclays increased their price target on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $195.00 target price on shares of MasTec in a report on Tuesday. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and an average price target of $160.07.

MasTec Price Performance

Shares of MTZ stock opened at $115.22 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The business’s 50 day moving average price is $132.73 and its 200-day moving average price is $133.23. The firm has a market cap of $9.14 billion, a P/E ratio of 102.87 and a beta of 1.74. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week high of $166.95.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.32 billion. On average, equities research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share 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.