Proficio Capital Partners LLC Invests $5.17 Million in MasTec, Inc. (NYSE:MTZ)

Proficio Capital Partners LLC purchased a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 37,983 shares of the construction company's stock, valued at approximately $5,171,000.

Other institutional investors have also recently modified their holdings of the company. Ameliora Wealth Management Ltd. purchased a new stake in shares of MasTec in the fourth quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of MasTec in the third quarter valued at approximately $25,000. Smartleaf Asset Management LLC raised its holdings in MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock worth $36,000 after purchasing an additional 128 shares during the last quarter. Global Retirement Partners LLC raised its holdings in MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock worth $42,000 after purchasing an additional 190 shares during the last quarter. Finally, R Squared Ltd acquired a new position in MasTec during the fourth quarter worth $44,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Performance

MTZ stock traded up $0.78 on Thursday, reaching $126.75. The company's stock had a trading volume of 950,093 shares, compared to its average volume of 851,820. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95. The company has a market capitalization of $10.05 billion, a P/E ratio of 113.17 and a beta of 1.74. The firm has a fifty day moving average of $136.38 and a two-hundred day moving average of $132.44. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20.

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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 (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.08. The business 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, analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on MTZ. B. Riley reaffirmed a "buy" rating and set a $165.00 price objective (up from $151.00) on shares of MasTec in a report on Wednesday. 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, March 3rd. Stifel Nicolaus reduced their price objective on MasTec from $185.00 to $175.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Robert W. Baird reduced their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Finally, Guggenheim began coverage on MasTec in a report on Wednesday, January 8th. They issued a "buy" rating and a $195.00 price target for the company. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.07.

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.