Victory Capital Management Inc. Raises Position in MasTec, Inc. (NYSE:MTZ)

Victory Capital Management Inc. lifted its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 69.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,834 shares of the construction company's stock after purchasing an additional 8,976 shares during the quarter. Victory Capital Management Inc.'s holdings in MasTec were worth $2,972,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MTZ. Wilmington Savings Fund Society FSB acquired a new stake in MasTec during the 3rd quarter worth approximately $25,000. Ameliora Wealth Management Ltd. purchased a new stake in shares of MasTec during the fourth quarter worth $25,000. Smartleaf Asset Management LLC raised its stake in shares of MasTec by 93.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock valued at $36,000 after acquiring an additional 128 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock valued at $42,000 after purchasing an additional 190 shares during the period. Finally, R Squared Ltd purchased a new position in MasTec in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Stock Performance

Shares of NYSE MTZ traded up $0.78 during trading hours on Thursday, reaching $126.75. The stock had a trading volume of 592,848 shares, compared to its average volume of 851,118. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 113.69 and a beta of 1.74. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week high of $166.95. The firm has a 50-day moving average of $136.38 and a 200-day moving average of $132.44. 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 posted its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.28 by $0.08. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. Equities research analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on MTZ. Barclays increased their price target on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Citigroup lifted their price target on shares of MasTec from $156.00 to $167.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Robert W. Baird dropped their price objective on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. KeyCorp raised their price objective on shares of MasTec from $153.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, January 8th. Finally, Guggenheim initiated coverage on MasTec in a report 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, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.