Amalgamated Bank Has $4 Million Stake in MasTec, Inc. (NYSE:MTZ)

Amalgamated Bank grew its stake in shares of MasTec, Inc. (NYSE:MTZ) by 1.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 29,377 shares of the construction company’s stock after buying an additional 296 shares during the period. Amalgamated Bank’s holdings in MasTec were worth $3,999,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MTZ. Pacer Advisors Inc. raised its holdings in MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after acquiring an additional 895,227 shares in the last quarter. State Street Corp increased its position in shares of MasTec by 1.4% during the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after purchasing an additional 24,522 shares during the period. Geode Capital Management LLC raised its stake in shares of MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares in the last quarter. Point72 Asset Management L.P. lifted its position in MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after purchasing an additional 279,778 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in MasTec by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after buying an additional 7,469 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Up 2.9 %

Shares of NYSE MTZ opened at $130.55 on Friday. 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 company has a market cap of $10.34 billion, a price-to-earnings ratio of 116.56 and a beta of 1.73. MasTec, Inc. has a 12-month low of $73.85 and a 12-month high of $166.95. The firm’s 50-day simple moving average is $141.72 and its 200 day simple moving average is $131.28.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating 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 business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. On average, research analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MTZ has been the subject of a number of analyst reports. KeyCorp raised their price objective on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Craig Hallum lifted their price objective on MasTec from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 4th. TD Cowen upped their price objective on MasTec from $115.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus raised their target price on MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upped their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.57.

MasTec 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.