42,992 Shares in MasTec, Inc. (NYSE:MTZ) Bought by Cohen & Steers Inc.

Cohen & Steers Inc. bought a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 42,992 shares of the construction company's stock, valued at approximately $5,853,000. Cohen & Steers Inc. owned approximately 0.05% of MasTec at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTZ. Arrowstreet Capital Limited Partnership bought a new position in MasTec in the 4th quarter valued at approximately $59,910,000. Barclays PLC raised its stake in shares of MasTec by 642.7% during the third quarter. Barclays PLC now owns 242,066 shares of the construction company's stock valued at $29,797,000 after acquiring an additional 209,472 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of MasTec by 52.4% during the fourth quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company's stock worth $55,162,000 after purchasing an additional 139,235 shares during the period. Raymond James Financial Inc. bought a new stake in shares of MasTec in the fourth quarter worth $17,776,000. Finally, Renaissance Technologies LLC acquired a new stake in MasTec in the fourth quarter valued at $16,571,000. Institutional investors own 78.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MTZ shares. KeyCorp reduced their price target on MasTec from $168.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday. Guggenheim reiterated a "buy" rating and issued a $195.00 target price on shares of MasTec in a report on Tuesday, March 25th. Truist Financial reduced their price objective on shares of MasTec from $197.00 to $154.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. raised their target price on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Finally, Barclays boosted their price target on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $152.00.

MasTec Trading Down 1.2 %

Shares of MTZ traded down $1.44 during mid-day trading on Friday, hitting $115.97. 1,013,145 shares of the company's stock traded hands, compared to its average volume of 936,199. The business's 50-day moving average price is $122.63 and its 200-day moving average price is $132.79. MasTec, Inc. has a 1 year low of $83.04 and a 1 year high of $166.95. The firm has a market capitalization of $9.17 billion, a P/E ratio of 103.55 and a beta of 1.62. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

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 for the quarter, beating the consensus estimate of $1.28 by $0.08. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. As a group, sell-side analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now directly owns 23,000 shares of the company's stock, valued at $3,027,490. This represents a 9.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 21.30% of the stock is currently owned by insiders.

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.