AlphaQuest LLC Trims Stock Position in MasTec, Inc. (NYSE:MTZ)

AlphaQuest LLC lessened its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 74.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in MasTec by 65.6% during the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company's stock valued at $278,312,000 after buying an additional 895,227 shares during the period. State Street Corp lifted its position in 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 buying an additional 24,522 shares during the period. Geode Capital Management LLC grew its holdings in MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company's stock worth $126,370,000 after purchasing an additional 16,844 shares during the period. Point72 Asset Management L.P. raised its stake in MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company's stock valued at $94,096,000 after buying an additional 279,778 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in MasTec by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company's stock worth $77,592,000 after purchasing an additional 7,469 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

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MasTec Price Performance

NYSE:MTZ traded up $4.44 during trading hours on Wednesday, hitting $125.97. 608,980 shares of the stock were exchanged, compared to its average volume of 1,139,440. The company has a market cap of $9.99 billion, a P/E ratio of 112.47 and a beta of 1.74. The firm's fifty day moving average price is $136.79 and its 200 day moving average price is $132.49. MasTec, Inc. has a 52-week low of $82.29 and a 52-week high of $166.95. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.28 by $0.08. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. As a group, equities research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

MTZ has been the topic of several research analyst reports. Guggenheim started coverage on shares of MasTec in a research note on Wednesday, January 8th. They set a "buy" rating and a $195.00 target price on the stock. B. Riley restated a "buy" rating and set a $165.00 target price (up previously from $151.00) on shares of MasTec in a research note on Wednesday. Citigroup upped their price objective on MasTec from $156.00 to $167.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. KeyCorp lifted their price target on shares of MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $160.07.

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.