Avantax Advisory Services Inc. Invests $490,000 in MasTec, Inc. (NYSE:MTZ)

Avantax Advisory Services Inc. acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,600 shares of the construction company's stock, valued at approximately $490,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock valued at $224,530,000 after acquiring an additional 24,522 shares during the last quarter. Geode Capital Management LLC lifted 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 valued at $126,370,000 after acquiring an additional 16,844 shares during the period. Point72 Asset Management L.P. boosted its position in MasTec by 57.7% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of MasTec by 1.2% during 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 during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of MasTec by 25.9% during the 4th quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock valued at $75,787,000 after purchasing an additional 114,502 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

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MasTec Stock Down 2.6 %

Shares of MTZ traded down $3.38 during midday trading on Tuesday, hitting $128.30. The company had a trading volume of 255,741 shares, compared to its average volume of 1,198,934. MasTec, Inc. has a 1 year low of $82.29 and a 1 year high of $166.95. The firm has a market capitalization of $10.17 billion, a P/E ratio of 114.58 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company's 50-day simple moving average is $135.32 and its 200-day simple moving average is $133.09.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The company had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.32 billion. As a group, sell-side analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on MTZ. JPMorgan Chase & Co. raised their price target 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. KeyCorp boosted their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, January 8th. B. Riley reiterated a "buy" rating and issued a $165.00 target price (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. Barclays upped their price target on shares of MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Finally, Truist Financial lifted their price objective on MasTec from $173.00 to $189.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average 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.