AlphaQuest LLC Decreases Stock Holdings in MasTec, Inc. (NYSE:MTZ)

AlphaQuest LLC lessened its holdings in MasTec, Inc. (NYSE:MTZ) by 74.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,834 shares of the construction company’s stock after selling 5,386 shares during the period. AlphaQuest LLC’s holdings in MasTec were worth $250,000 as of its most recent SEC filing.

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

MasTec Stock Up 3.5 %

NYSE:MTZ opened at $120.61 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average of $137.76 and a 200-day moving average of $132.18. The firm has a market capitalization of $9.56 billion, a PE ratio of 107.69 and a beta of 1.74. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. Analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MTZ shares. Citigroup lifted their price objective on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Barclays upped their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. KeyCorp lifted their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Stifel Nicolaus reduced their price target on MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Guggenheim started coverage on MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $160.14.

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.