Russell Investments Group Ltd. Increases Holdings in MasTec, Inc. (NYSE:MTZ)

Russell Investments Group Ltd. lifted its position in MasTec, Inc. (NYSE:MTZ) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,944 shares of the construction company’s stock after buying an additional 2,416 shares during the period. Russell Investments Group Ltd. owned approximately 0.16% of MasTec worth $16,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MTZ. State Street Corp boosted its stake in shares of MasTec by 1.4% during the 3rd 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. Geode Capital Management LLC raised its holdings in MasTec by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after purchasing an additional 16,844 shares during the period. Bank of New York Mellon Corp lifted its position in MasTec by 25.9% during the fourth quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company’s stock valued at $75,787,000 after purchasing an additional 114,502 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in MasTec during the fourth quarter valued at about $59,910,000. Finally, Prudential Financial Inc. increased its position in MasTec by 52.4% in the fourth quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company’s stock worth $55,162,000 after buying an additional 139,235 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

MTZ has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. B. Riley reiterated a “buy” rating and issued a $165.00 price target (up from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. KeyCorp raised their price objective on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Guggenheim reaffirmed a “buy” rating and issued a $195.00 target price on shares of MasTec in a report on Tuesday, March 25th. Finally, Stifel Nicolaus decreased their price target on MasTec from $175.00 to $143.00 and set a “buy” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $153.87.

MasTec Stock Up 14.1 %

NYSE MTZ opened at $121.90 on Thursday. The stock has a 50 day moving average price of $125.67 and a 200-day moving average price of $133.12. MasTec, Inc. has a one year low of $82.29 and a one year high of $166.95. 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 company has a market capitalization of $9.67 billion, a P/E ratio of 108.84 and a beta of 1.62.

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