Chung Wu Investment Group LLC Takes $498,000 Position in MasTec, Inc. (NYSE:MTZ)

Chung Wu Investment Group LLC purchased a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,660 shares of the construction company's stock, valued at approximately $498,000.

Several other large investors have also recently made changes to their positions in the stock. New York State Teachers Retirement System increased its holdings in MasTec by 21.7% in the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company's stock valued at $4,398,000 after purchasing an additional 5,750 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of MasTec by 45.8% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company's stock valued at $3,880,000 after buying an additional 8,948 shares in the last quarter. Atom Investors LP grew its stake in shares of MasTec by 979.0% in the third quarter. Atom Investors LP now owns 61,018 shares of the construction company's stock valued at $7,511,000 after buying an additional 55,363 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of MasTec by 286.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company's stock valued at $2,433,000 after buying an additional 13,241 shares during the period. Finally, State Street Corp lifted its stake in MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company's stock worth $224,530,000 after acquiring an additional 24,522 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

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MasTec Stock Performance

MasTec stock traded down $3.51 during midday trading on Friday, hitting $115.33. 1,613,825 shares of the company's stock were exchanged, compared to its average volume of 1,136,669. 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 stock has a market cap of $9.14 billion, a price-to-earnings ratio of 102.97 and a beta of 1.74. MasTec, Inc. has a 12-month low of $82.29 and a 12-month high of $166.95. The firm's 50 day simple moving average is $140.09 and its 200 day simple moving average is $132.15.

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%. Equities research analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on MTZ. Robert W. Baird dropped their target price on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. KeyCorp increased their target price on shares of MasTec from $153.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, January 8th. 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. Citigroup upped their price objective on MasTec from $156.00 to $167.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Finally, Stifel Nicolaus decreased their target price on MasTec from $185.00 to $175.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, MasTec has a consensus rating of "Moderate Buy" and an average price target of $160.14.

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.