Banco Santander S.A. Takes Position in MasTec, Inc. (NYSE:MTZ)

Banco Santander S.A. purchased 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 Securities and Exchange Commission. The firm purchased 31,149 shares of the construction company’s stock, valued at approximately $4,241,000.

A number of other hedge funds have also added to or reduced their stakes in MTZ. New York State Teachers Retirement System boosted its holdings in shares of MasTec by 21.7% in the 4th 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 in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in 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 grew its position in MasTec by 979.0% in the third quarter. Atom Investors LP now owns 61,018 shares of the construction company’s stock valued at $7,511,000 after acquiring an additional 55,363 shares during the last quarter. Exchange Traded Concepts LLC grew its position in 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 acquiring an additional 13,241 shares during the last quarter. Finally, State Street Corp raised its stake in MasTec by 1.4% during 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 in the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Price Performance

MasTec stock opened at $115.33 on Friday. The stock’s 50 day moving average is $140.09 and its 200 day moving average is $131.87. MasTec, Inc. has a one year low of $82.29 and a one year high of $166.95. The firm has a market cap of $9.14 billion, a P/E ratio of 102.97 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

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 analysts’ consensus estimates of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. As a group, research analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Guggenheim started coverage on shares of MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 price target on the stock. Stifel Nicolaus decreased their target price on shares of MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Robert W. Baird lowered their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Truist Financial raised their price objective on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Barclays upped their target price on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, MasTec has an average rating of “Moderate Buy” and a consensus 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.