LGT Fund Management Co Ltd. Purchases 2,584 Shares of MasTec, Inc. (NYSE:MTZ)

LGT Fund Management Co Ltd. lifted its position in shares of MasTec, Inc. (NYSE:MTZ) by 130.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,572 shares of the construction company’s stock after purchasing an additional 2,584 shares during the period. LGT Fund Management Co Ltd.’s holdings in MasTec were worth $622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in MTZ. Pacer Advisors Inc. increased its stake 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 worth $278,312,000 after purchasing an additional 895,227 shares during the period. Jacobs Levy Equity Management Inc. grew its position in MasTec by 266.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock worth $48,928,000 after buying an additional 289,090 shares in the last quarter. Point72 Asset Management L.P. grew its position in MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after buying an additional 279,778 shares in the last quarter. Barclays PLC grew its position in MasTec by 642.7% during the third quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock worth $29,797,000 after buying an additional 209,472 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in MasTec by 205.4% during the third quarter. Van ECK Associates Corp now owns 282,970 shares of the construction company’s stock worth $34,613,000 after buying an additional 190,320 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

Analyst Upgrades and Downgrades

MTZ has been the topic of a number of analyst reports. Craig Hallum increased their price target on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Robert W. Baird reduced their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday. B. Riley reissued a “buy” rating and set a $166.00 price target (up previously from $151.00) on shares of MasTec in a research report on Tuesday, November 5th. Finally, KeyCorp increased their price target on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Two investment 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 stock presently has an average rating of “Moderate Buy” and an average price target of $159.07.

MasTec Stock Down 2.3 %

Shares of 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 stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 113.89 and a beta of 1.73. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The stock has a fifty day moving average of $141.60 and a 200-day moving average of $131.76.

MasTec (NYSE:MTZ) last announced its quarterly 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. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.32 billion. As a group, sell-side analysts anticipate that MasTec, Inc. will post 3.44 earnings per share 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.