Victory Capital Management Inc. Buys 8,976 Shares of MasTec, Inc. (NYSE:MTZ)

Victory Capital Management Inc. lifted its stake in MasTec, Inc. (NYSE:MTZ) by 69.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,834 shares of the construction company’s stock after buying an additional 8,976 shares during the period. Victory Capital Management Inc.’s holdings in MasTec were worth $2,972,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Allworth Financial LP boosted its stake in shares of MasTec by 15.1% in the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock valued at $81,000 after buying an additional 78 shares during the period. CIBC Asset Management Inc boosted its stake in shares of MasTec by 3.7% in the third quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after buying an additional 82 shares during the period. Coldstream Capital Management Inc. boosted 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 valued at $423,000 after buying an additional 94 shares during the period. Fielder Capital Group LLC boosted its stake in shares of MasTec by 6.1% in the fourth quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company’s stock valued at $247,000 after buying an additional 105 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of MasTec by 29.8% in the fourth quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock valued at $67,000 after buying an additional 113 shares during the period. 78.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MTZ shares. KeyCorp upped their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Guggenheim started coverage on MasTec in a research note on Wednesday, January 8th. They set a “buy” rating and a $195.00 target price for the company. Truist Financial upped their target price on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus cut their target price on MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Robert W. Baird cut their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $160.14.

MasTec Stock Up 3.5 %

Shares of NYSE:MTZ opened at $120.61 on Monday. The company has a fifty day moving average of $137.76 and a 200-day moving average of $132.33. The company has a market capitalization of $9.56 billion, a PE ratio of 107.69 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a 52-week low of $82.29 and a 52-week high of $166.95.

MasTec (NYSE:MTZ) last posted its quarterly earnings data 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 business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. On average, equities analysts predict that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

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.