MetLife Investment Management LLC Purchases 2,898 Shares of MasTec, Inc. (NYSE:MTZ)

MetLife Investment Management LLC grew its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,724 shares of the construction company's stock after buying an additional 2,898 shares during the quarter. MetLife Investment Management LLC's holdings in MasTec were worth $4,727,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC lifted its position in shares of MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company's stock worth $29,797,000 after buying an additional 209,472 shares during the period. Virtu Financial LLC acquired a new position in MasTec during the third quarter worth $254,000. Sanctuary Advisors LLC bought a new position in shares of MasTec during the third quarter valued at $500,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec in the 3rd quarter valued at $25,000. Finally, Blankinship & Foster LLC acquired a new stake in shares of MasTec in the 3rd quarter valued at $246,000. 78.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MTZ has been the subject of several analyst reports. B. Riley reissued a "buy" rating and set a $165.00 price target (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Stifel Nicolaus cut their target price on shares of MasTec from $175.00 to $143.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. increased 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. Piper Sandler initiated coverage on MasTec in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $134.00 price objective for the company. Finally, KeyCorp reduced their price objective on MasTec from $168.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $151.00.

MasTec Trading Up 1.4 %

NYSE:MTZ traded up $1.83 on Tuesday, hitting $128.00. 349,204 shares of the stock were exchanged, compared to its average volume of 935,421. The stock has a market capitalization of $10.12 billion, a price-to-earnings ratio of 114.21 and a beta of 1.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a 52 week low of $86.12 and a 52 week high of $166.95. The company's 50-day moving average price is $120.17 and its 200 day moving average price is $132.51.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share 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 business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. On average, equities research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insider Transactions at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the transaction, the director now owns 23,000 shares of the company's stock, valued at approximately $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 21.30% of the stock is owned by corporate 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.