L & S Advisors Inc Invests $3.38 Million in MasTec, Inc. $MTZ

L & S Advisors Inc bought a new position in shares of MasTec, Inc. (NYSE:MTZ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,863 shares of the construction company’s stock, valued at approximately $3,376,000.

Other hedge funds also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC lifted its holdings in shares of MasTec by 344.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after buying an additional 93 shares during the period. Caldwell Trust Co purchased a new stake in MasTec in the 2nd quarter worth approximately $29,000. Parkside Financial Bank & Trust grew its stake in shares of MasTec by 253.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after purchasing an additional 137 shares during the period. Evelyn Partners Asset Management Ltd purchased a new position in shares of MasTec during the 2nd quarter valued at approximately $43,000. Finally, Princeton Global Asset Management LLC acquired a new position in shares of MasTec in the 3rd quarter valued at $43,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Stock Down 1.3%

NYSE MTZ opened at $264.39 on Thursday. The business has a fifty day moving average price of $236.98 and a 200 day moving average price of $211.48. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.33. The company has a market cap of $20.86 billion, a P/E ratio of 62.80 and a beta of 1.94. MasTec, Inc. has a one year low of $99.70 and a one year high of $276.79.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Citigroup raised their price target on shares of MasTec from $248.00 to $284.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Barclays lifted their price target on MasTec from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Mizuho set a $254.00 price target on MasTec in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of MasTec in a research report on Monday, December 29th. Finally, Cantor Fitzgerald started coverage on MasTec in a research note on Friday, January 23rd. They set an “overweight” rating and a $274.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $238.16.

MasTec Company Profile

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.