Harvest Fund Management Co. Ltd Acquires 5,743 Shares of MasTec, Inc. (NYSE:MTZ)

Harvest Fund Management Co. Ltd grew its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 238.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,156 shares of the construction company's stock after purchasing an additional 5,743 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in MasTec were worth $1,110,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in MTZ. Pacer Advisors Inc. grew its holdings in MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company's stock valued at $278,312,000 after buying an additional 895,227 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of MasTec by 266.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company's stock worth $48,928,000 after acquiring an additional 289,090 shares during the last quarter. Point72 Asset Management L.P. increased its position in MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company's stock worth $94,096,000 after acquiring an additional 279,778 shares during the period. Barclays PLC raised its stake in MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company's stock valued at $29,797,000 after purchasing an additional 209,472 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in MasTec in the 4th quarter valued at $17,776,000. 78.10% of the stock is currently owned by institutional investors.

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MasTec Price Performance

NYSE MTZ traded up $7.90 on Monday, hitting $131.93. 1,313,727 shares of the company were exchanged, compared to its average volume of 871,747. MasTec, Inc. has a 1-year low of $82.29 and a 1-year high of $166.95. The firm has a 50 day moving average of $135.56 and a two-hundred day moving average of $132.88. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company has a market cap of $10.46 billion, a P/E ratio of 117.80 and a beta of 1.74.

MasTec (NYSE:MTZ - Get Free Report) last announced 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. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, equities analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

Wall Street Analyst Weigh In

MTZ has been the subject of several research reports. JPMorgan Chase & Co. increased 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. Stifel Nicolaus decreased their price objective on MasTec from $185.00 to $175.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Barclays raised their target price on MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. Robert W. Baird reduced their price objective on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Finally, Citigroup upped 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. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, MasTec has an average rating of "Moderate Buy" and a consensus target price of $160.07.

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.