LGT Fund Management Co Ltd. Raises Holdings in MasTec, Inc. (NYSE:MTZ)

LGT Fund Management Co Ltd. raised its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 130.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,572 shares of the construction company's stock after purchasing an additional 2,584 shares during the period. LGT Fund Management Co Ltd.'s holdings in MasTec were worth $622,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MTZ. Pacer Advisors Inc. lifted its holdings in shares of MasTec by 65.6% during the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company's stock valued at $278,312,000 after purchasing an additional 895,227 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in MasTec by 266.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company's stock valued at $48,928,000 after acquiring an additional 289,090 shares during the period. Point72 Asset Management L.P. lifted its stake in MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company's stock valued at $94,096,000 after acquiring an additional 279,778 shares during the period. Barclays PLC boosted its holdings in shares of 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 acquiring an additional 209,472 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of MasTec by 205.4% in the third quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company's stock worth $34,613,000 after acquiring an additional 190,320 shares during the period. Institutional investors own 78.10% of the company's stock.

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MasTec Price Performance

Shares of MTZ traded down $3.51 during mid-day trading on Friday, reaching $115.33. The stock had a trading volume of 1,613,825 shares, compared to its average volume of 1,136,669. The business has a fifty day moving average of $140.50 and a 200 day moving average of $131.86. 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 firm has a market cap of $9.14 billion, a price-to-earnings ratio of 102.97 and a beta of 1.73. MasTec, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last issued its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share 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 the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. Equities analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MTZ. Barclays increased their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday. Robert W. Baird dropped their price target on MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research note on Monday. Citigroup lifted their price objective on MasTec from $156.00 to $167.00 and gave the stock a "buy" rating in a report on Monday. Guggenheim started coverage on MasTec in a report on Wednesday, January 8th. They issued a "buy" rating and a $195.00 target price on the stock. Finally, KeyCorp boosted their price target on MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.