Resona Asset Management Co. Ltd. Purchases Shares of 3,854 MasTec, Inc. (NYSE:MTZ)

Resona Asset Management Co. Ltd. acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,854 shares of the construction company's stock, valued at approximately $524,000.

A number of other large investors have also added to or reduced their stakes in the stock. Allworth Financial LP increased its holdings in shares of MasTec by 15.1% during the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company's stock valued at $81,000 after acquiring an additional 78 shares in the last quarter. Arizona State Retirement System raised its holdings in MasTec by 0.5% in the fourth quarter. Arizona State Retirement System now owns 18,393 shares of the construction company's stock worth $2,504,000 after buying an additional 89 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of MasTec by 2.8% in the third quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company's stock worth $423,000 after buying an additional 94 shares in the last quarter. Fielder Capital Group LLC increased its position in shares of MasTec by 6.1% during the fourth quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company's stock valued at $247,000 after acquiring an additional 105 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in MasTec by 29.8% in the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company's stock worth $67,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

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MasTec Stock Performance

MTZ traded down $0.07 during midday trading on Tuesday, reaching $118.13. The company had a trading volume of 269,310 shares, compared to its average volume of 932,015. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a market cap of $9.37 billion, a P/E ratio of 105.47 and a beta of 1.62. The business has a 50-day moving average of $124.28 and a two-hundred day moving average of $133.05. MasTec, Inc. has a 1 year low of $82.29 and a 1 year high of $166.95.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on MTZ shares. Robert W. Baird reduced their target price on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Citigroup boosted their target price on MasTec from $156.00 to $167.00 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Wolfe Research began coverage on shares of MasTec in a report on Monday, March 31st. They set a "peer perform" rating on the stock. Guggenheim reiterated a "buy" rating and issued a $195.00 price target on shares of MasTec in a research note on Tuesday, March 25th. Finally, Truist Financial dropped their target price on shares of MasTec from $197.00 to $154.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Three 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $153.87.

Insider Transactions at MasTec

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

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.