Bank of New York Mellon Corp Purchases 114,502 Shares of MasTec, Inc. (NYSE:MTZ)

Bank of New York Mellon Corp raised its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 25.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 556,686 shares of the construction company's stock after acquiring an additional 114,502 shares during the period. Bank of New York Mellon Corp owned approximately 0.70% of MasTec worth $75,787,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MTZ. Creative Planning lifted its stake in MasTec by 9.5% during the third quarter. Creative Planning now owns 2,909 shares of the construction company's stock worth $358,000 after purchasing an additional 253 shares during the last quarter. Private Advisor Group LLC raised its stake in MasTec by 89.6% during the third quarter. Private Advisor Group LLC now owns 3,956 shares of the construction company's stock worth $487,000 after acquiring an additional 1,869 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of MasTec in the third quarter worth about $84,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of MasTec by 239.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,157 shares of the construction company's stock valued at $1,127,000 after purchasing an additional 6,462 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of MasTec by 7.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 7,013 shares of the construction company's stock valued at $863,000 after purchasing an additional 485 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

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MasTec Stock Down 2.7 %

Shares of NYSE MTZ traded down $3.16 during mid-day trading on Friday, reaching $115.69. 948,046 shares of the company's stock traded hands, compared to its average volume of 1,120,570. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The business has a 50-day simple moving average of $140.50 and a 200 day simple moving average of $131.86. The stock has a market cap of $9.17 billion, a P/E ratio of 103.31 and a beta of 1.73. MasTec, Inc. has a 1-year low of $82.29 and a 1-year high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.08. The business 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%. On average, analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MTZ shares. KeyCorp increased their price target on MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price target on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Guggenheim initiated coverage on MasTec in a research note on Wednesday, January 8th. They issued a "buy" rating and a $195.00 price target for the company. Stifel Nicolaus reduced their price objective on shares of MasTec from $185.00 to $175.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Robert W. Baird lowered their target price on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $160.14.

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.