Advisors Asset Management Inc. Raises Holdings in MasTec, Inc. (NYSE:MTZ)

Advisors Asset Management Inc. grew its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,511 shares of the construction company's stock after buying an additional 3,750 shares during the quarter. Advisors Asset Management Inc.'s holdings in MasTec were worth $5,107,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ameliora Wealth Management Ltd. bought a new position in MasTec in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of MasTec by 181.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after purchasing an additional 116 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in MasTec in the 3rd quarter worth about $25,000. Smartleaf Asset Management LLC lifted its holdings in MasTec by 93.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock valued at $36,000 after buying an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in MasTec by 162.4% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock valued at $42,000 after buying an additional 190 shares during the period. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Price Performance

Shares of MTZ traded up $7.90 during trading hours on Monday, reaching $131.93. The company had a trading volume of 1,313,727 shares, compared to its average volume of 871,747. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of 117.80 and a beta of 1.74. MasTec, Inc. has a 12-month low of $82.29 and a 12-month high of $166.95. The firm has a 50 day simple moving average of $135.56 and a 200-day simple 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.

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MasTec (NYSE:MTZ - Get Free Report) last issued its earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.08. The company had revenue of $3.40 billion during 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%. Research analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. KeyCorp increased their price objective on shares of 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. boosted their price target on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. Guggenheim assumed coverage on MasTec in a research note on Wednesday, January 8th. They issued a "buy" rating and a $195.00 target price for the company. Robert W. Baird reduced their price target on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Finally, Barclays boosted their price objective on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, MasTec currently has a consensus rating of "Moderate Buy" and an average target price of $160.07.

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.