Raymond James Financial Inc. Buys Shares of 130,573 MasTec, Inc. (NYSE:MTZ)

Raymond James Financial Inc. bought a new stake in MasTec, Inc. (NYSE:MTZ) in the 4th quarter, Holdings Channel.com reports. The fund bought 130,573 shares of the construction company’s stock, valued at approximately $17,776,000.

Several other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of MasTec during the third quarter worth $25,000. Ameliora Wealth Management Ltd. bought a new stake in shares of MasTec during the fourth quarter worth $25,000. Smartleaf Asset Management LLC increased its position in shares of 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 acquiring an additional 128 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of 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 acquiring an additional 190 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of MasTec during the fourth quarter worth $44,000. Institutional investors own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. KeyCorp increased their price objective on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Guggenheim initiated coverage on shares of MasTec in a research report on Wednesday, January 8th. They set a “buy” rating and a $195.00 price objective for the company. Robert W. Baird reduced their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Citigroup increased their target price on shares of MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.14.

MasTec Stock Performance

Shares of MTZ stock opened at $124.04 on Tuesday. The stock has a market cap of $9.84 billion, a P/E ratio of 110.75 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The company has a fifty day moving average price of $137.28 and a two-hundred day moving average price of $132.43. MasTec, Inc. has a one year low of $82.29 and a one year high of $166.95.

MasTec (NYSE:MTZ) last posted its earnings results 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 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%. As a group, equities analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

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.