Globeflex Capital L P Makes New $136,000 Investment in MasTec, Inc. (NYSE:MTZ)

Globeflex Capital L P bought a new position in shares of MasTec, Inc. (NYSE:MTZ) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 1,000 shares of the construction company’s stock, valued at approximately $136,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTZ. Wilmington Savings Fund Society FSB acquired a new position in MasTec during the 3rd quarter worth approximately $25,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its stake in MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company’s stock valued at $25,000 after purchasing an additional 116 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock valued at $36,000 after purchasing an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in MasTec by 162.4% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock valued at $42,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MTZ shares. Truist Financial raised their price objective on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised 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. KeyCorp raised their price objective on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Barclays raised their price objective 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 raised their price objective on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, MasTec presently has an average rating of “Moderate Buy” and a consensus target price of $160.14.

MasTec Price Performance

MTZ stock opened at $120.61 on Friday. MasTec, Inc. has a 52-week low of $82.29 and a 52-week high of $166.95. The stock’s fifty day simple moving average is $137.76 and its 200-day simple moving average is $132.18. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 107.69 and a beta of 1.74.

MasTec (NYSE:MTZ) last posted its quarterly earnings data 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 return on equity of 8.27% and a net margin of 0.73%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Equities research analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

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.