Proficio Capital Partners LLC Takes Position in MasTec, Inc. (NYSE:MTZ)

Proficio Capital Partners LLC bought a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 37,983 shares of the construction company's stock, valued at approximately $5,171,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTZ. Pacer Advisors Inc. raised its holdings in shares of MasTec by 65.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company's stock worth $278,312,000 after purchasing an additional 895,227 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings 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 worth $48,928,000 after buying an additional 289,090 shares during the period. Point72 Asset Management L.P. lifted its position in shares of MasTec by 57.7% in 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 in the last quarter. Barclays PLC boosted its stake in MasTec by 642.7% in the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company's stock worth $29,797,000 after purchasing an additional 209,472 shares during the period. Finally, Van ECK Associates Corp grew its position in MasTec by 205.4% during the 3rd quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company's stock worth $34,613,000 after purchasing an additional 190,320 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

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MasTec Stock Performance

Shares of NYSE:MTZ traded down $3.51 during midday trading on Friday, hitting $115.33. The company's stock had a trading volume of 1,613,806 shares, compared to its average volume of 1,136,665. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week high of $166.95. 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 stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 102.97 and a beta of 1.73. The stock's 50 day simple moving average is $140.50 and its 200 day simple moving average is $131.86.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.08. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. As a group, research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MTZ. Truist Financial increased their price objective on MasTec from $173.00 to $189.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their price objective 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. KeyCorp boosted their price target on shares of MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Robert W. Baird dropped their price target on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, Guggenheim started coverage on MasTec in a research note on Wednesday, January 8th. They issued a "buy" rating and a $195.00 target price on the stock. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.