Raymond James Financial Inc. Purchases Shares of 130,573 MasTec, Inc. (NYSE:MTZ)

Raymond James Financial Inc. bought a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 130,573 shares of the construction company's stock, valued at approximately $17,776,000. Raymond James Financial Inc. owned approximately 0.16% of MasTec as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Atria Investments Inc bought a new stake in MasTec in the 3rd quarter valued at $302,000. Victory Capital Management Inc. lifted its holdings in shares of MasTec by 0.8% in the third quarter. Victory Capital Management Inc. now owns 12,858 shares of the construction company's stock valued at $1,583,000 after purchasing an additional 101 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of MasTec by 3.7% during the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company's stock worth $281,000 after buying an additional 82 shares during the period. Claro Advisors LLC acquired a new position in shares of MasTec during the third quarter worth about $230,000. Finally, Quest Partners LLC grew its holdings in shares of MasTec by 360,900.0% during the third quarter. Quest Partners LLC now owns 7,220 shares of the construction company's stock worth $889,000 after buying an additional 7,218 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Price Performance

Shares of MasTec stock traded down $2.70 during trading on Friday, reaching $123.89. 4,892,391 shares of the company's stock were exchanged, compared to its average volume of 868,784. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a 1-year low of $82.29 and a 1-year high of $166.95. The company has a market cap of $9.82 billion, a P/E ratio of 110.61 and a beta of 1.74. The firm's 50-day moving average price is $135.98 and its 200 day moving average price is $132.40.

Remove Ads

MasTec (NYSE:MTZ - Get Free Report) last posted its earnings results 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 firm 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, research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

MTZ has been the topic of several research reports. Truist Financial boosted their target price on MasTec from $173.00 to $189.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Citigroup upped their price target on shares of MasTec from $156.00 to $167.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on shares of MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Barclays upped their target price on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Finally, Robert W. Baird dropped their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, MasTec currently has an average rating of "Moderate Buy" and a consensus target price of $160.07.

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.