Candriam S.C.A. Has $9.62 Million Stake in MasTec, Inc. (NYSE:MTZ)

Candriam S.C.A. lessened its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 53.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 70,673 shares of the construction company's stock after selling 81,436 shares during the quarter. Candriam S.C.A. owned 0.09% of MasTec worth $9,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameliora Wealth Management Ltd. purchased a new position in MasTec in the fourth quarter valued at about $25,000. Wilmington Savings Fund Society FSB acquired a new stake in MasTec in the third quarter valued at approximately $25,000. Smartleaf Asset Management LLC raised its holdings in shares of MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock valued at $36,000 after purchasing an additional 128 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock worth $42,000 after purchasing an additional 190 shares in the last quarter. Finally, R Squared Ltd bought a new position in MasTec during the fourth quarter valued at about $44,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Price Performance

Shares of NYSE:MTZ traded up $6.00 during trading on Tuesday, reaching $114.66. The stock had a trading volume of 2,027,803 shares, compared to its average volume of 849,758. The business's 50-day moving average price is $139.55 and its 200 day moving average price is $132.14. 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 stock has a market capitalization of $9.09 billion, a PE ratio of 102.38 and a beta of 1.74. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95.

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MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.28 by $0.08. The company 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, equities analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MTZ shares. Truist Financial boosted their target price on MasTec from $173.00 to $189.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. KeyCorp boosted their price objective on MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 8th. Citigroup boosted their target price 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. boosted their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Finally, Barclays boosted their price target on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.