Proficio Capital Partners LLC Makes New $5.17 Million Investment in MasTec, Inc. (NYSE:MTZ)

Proficio Capital Partners LLC bought a new position in MasTec, Inc. (NYSE:MTZ) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 37,983 shares of the construction company’s stock, valued at approximately $5,171,000.

A number of other institutional investors have also recently modified their holdings of the stock. Pacer Advisors Inc. boosted its position in shares of MasTec by 65.6% during the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock valued at $278,312,000 after buying an additional 895,227 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of MasTec by 266.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock valued at $48,928,000 after buying an additional 289,090 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after buying an additional 279,778 shares during the last quarter. Barclays PLC boosted its position in shares of MasTec by 642.7% during the third quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock valued at $29,797,000 after buying an additional 209,472 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of MasTec by 25.9% during the fourth quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company’s stock valued at $75,787,000 after buying an additional 114,502 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTZ has been the topic of several recent analyst reports. Stifel Nicolaus dropped their price objective on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Truist Financial increased their target price on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. KeyCorp increased their target price on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Robert W. Baird lowered their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. 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 research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and an average target price of $160.14.

MasTec Stock Up 3.5 %

NYSE MTZ opened at $120.61 on Monday. The stock’s 50-day moving average price is $137.76 and its 200-day moving average price is $132.33. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95. The company has a market capitalization of $9.56 billion, a P/E ratio of 107.69 and a beta of 1.74.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.32 billion. On average, equities research analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

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.