Bank of New York Mellon Corp Boosts Stock Position in MasTec, Inc. (NYSE:MTZ)

Bank of New York Mellon Corp raised its position in shares of MasTec, Inc. (NYSE:MTZ) by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 556,686 shares of the construction company’s stock after acquiring an additional 114,502 shares during the quarter. Bank of New York Mellon Corp’s holdings in MasTec were worth $75,787,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTZ. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec in the fourth quarter valued at about $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec in the third quarter valued at approximately $25,000. Global Retirement Partners LLC lifted its position 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 buying an additional 190 shares in the last quarter. R Squared Ltd purchased a new position in MasTec during the fourth quarter worth approximately $44,000. Finally, True Wealth Design LLC acquired a new position in MasTec during the third quarter worth $57,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Trading Down 2.3 %

MTZ opened at $127.56 on Tuesday. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95. 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 business has a fifty day simple moving average of $141.60 and a 200-day simple moving average of $131.76. The firm has a market cap of $10.11 billion, a P/E ratio of 113.89 and a beta of 1.73.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating 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 return on equity of 8.27% and a net margin of 0.73%. On average, equities analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup raised their target price on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday. Craig Hallum lifted their target price on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus dropped their price target on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday. Robert W. Baird reduced their price target on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Guggenheim assumed coverage on MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.07.

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.