Farrow Financial Inc. cut its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 16.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,732 shares of the construction company's stock after selling 4,785 shares during the period. MasTec comprises about 2.2% of Farrow Financial Inc.'s holdings, making the stock its 11th largest position. Farrow Financial Inc.'s holdings in MasTec were worth $3,359,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System boosted its position in shares of 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 worth $4,398,000 after buying an additional 5,750 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of MasTec by 45.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company's stock worth $3,880,000 after buying an additional 8,948 shares in the last quarter. Atom Investors LP boosted its position in shares of MasTec by 979.0% in the 3rd quarter. Atom Investors LP now owns 61,018 shares of the construction company's stock worth $7,511,000 after buying an additional 55,363 shares in the last quarter. Exchange Traded Concepts LLC boosted its position 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 worth $2,433,000 after buying an additional 13,241 shares in the last quarter. Finally, State Street Corp boosted its position 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 worth $224,530,000 after buying an additional 24,522 shares in the last quarter. 78.10% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently commented on MTZ. KeyCorp boosted their price objective on shares of 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 company a "buy" rating in a research note on Monday, March 3rd. Guggenheim assumed coverage on shares of MasTec in a research note on Wednesday, January 8th. They issued a "buy" rating and a $195.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Finally, Robert W. Baird cut 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, March 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, MasTec currently has an average rating of "Moderate Buy" and a consensus price target of $160.14.
Get Our Latest Report on MTZ
MasTec Trading Down 3.0 %
NYSE MTZ opened at $115.33 on Friday. MasTec, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95. The company has a 50-day moving average of $140.09 and a 200-day moving average of $131.87. 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 company has a market cap of $9.14 billion, a P/E ratio of 102.97 and a beta of 1.74.
MasTec (NYSE:MTZ - Get Free Report) last posted its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 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.
MasTec Company Profile
(
Free Report)
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.
Further Reading
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