Zurcher Kantonalbank Zurich Cantonalbank Buys 8,455 Shares of MasTec, Inc. (NYSE:MTZ)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,129 shares of the construction company's stock after acquiring an additional 8,455 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.15% of MasTec worth $16,354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. TradeLink Capital LLC purchased a new position in MasTec in the 4th quarter worth approximately $295,000. Banco Santander S.A. bought a new stake in shares of MasTec during the 4th quarter worth $4,241,000. Lisanti Capital Growth LLC grew its position in MasTec by 2.5% in the fourth quarter. Lisanti Capital Growth LLC now owns 44,155 shares of the construction company's stock worth $6,011,000 after acquiring an additional 1,065 shares in the last quarter. Chung Wu Investment Group LLC bought a new position in MasTec in the fourth quarter valued at $498,000. Finally, Raymond James Financial Inc. purchased a new stake in MasTec during the fourth quarter valued at about $17,776,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Stock Performance

Shares of MasTec stock traded down $1.40 during trading on Thursday, hitting $116.50. 912,935 shares of the company's stock traded hands, compared to its average volume of 851,501. The business has a 50-day simple moving average of $138.76 and a 200-day simple moving average of $132.06. 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 stock has a market capitalization of $9.24 billion, a P/E ratio of 104.02 and a beta of 1.74. MasTec, Inc. has a 1 year low of $82.29 and a 1 year high of $166.95.

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MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. As a group, analysts forecast that MasTec, Inc. will post 3.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup upped their price objective 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. Truist Financial raised their price objective on MasTec from $173.00 to $189.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. KeyCorp boosted their target price on MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. raised their price target on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Finally, Guggenheim initiated coverage on MasTec in a research report on Wednesday, January 8th. They issued a "buy" rating and a $195.00 price objective for the company. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, MasTec has an average rating of "Moderate Buy" and a consensus target price of $160.14.

About MasTec

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.