Advisory Services Network LLC acquired a new position in shares of MasTec, Inc. (NYSE:MTZ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,436 shares of the construction company’s stock, valued at approximately $152,000.
Several other hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its position in MasTec by 21.8% in the 1st quarter. Teacher Retirement System of Texas now owns 6,691 shares of the construction company’s stock valued at $627,000 after acquiring an additional 1,199 shares in the last quarter. Geode Capital Management LLC lifted its position in MasTec by 12.2% in the 1st quarter. Geode Capital Management LLC now owns 945,683 shares of the construction company’s stock valued at $88,610,000 after acquiring an additional 102,552 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in MasTec in the 1st quarter valued at about $94,000. Allianz Asset Management GmbH lifted its position in MasTec by 19.4% in the 1st quarter. Allianz Asset Management GmbH now owns 71,490 shares of the construction company’s stock valued at $6,698,000 after acquiring an additional 11,639 shares in the last quarter. Finally, Townsend Asset Management Corp NC ADV bought a new position in MasTec in the 1st quarter valued at about $416,000. 72.44% of the stock is currently owned by institutional investors.
Shares of MTZ stock opened at $85.07 on Thursday. The company has a 50 day moving average of $90.29 and a 200-day moving average of $100.54. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 0.66. MasTec, Inc. has a 12-month low of $45.81 and a 12-month high of $122.33. The firm has a market cap of $6.32 billion, a P/E ratio of 16.88 and a beta of 1.29.
Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of MasTec from a “buy” rating to a “hold” rating and set a $102.00 price objective for the company. in a research note on Tuesday, July 20th. The Goldman Sachs Group assumed coverage on shares of MasTec in a research note on Friday, September 17th. They issued a “buy” rating and a $120.00 price objective for the company. Finally, Cowen decreased their price objective on shares of MasTec from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, August 10th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $109.00.
MasTec Company Profile
MasTec, Inc engages in the provision of infrastructure construction services. It operates through the following segments: Communications; Oil and Gas; Electrical Transmissions; Clean Energy and Infrastructure; and Other. The Communications segment performs engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers.
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