Vinva Investment Management Ltd Invests $133,000 in MasTec, Inc. (NYSE:MTZ)

Vinva Investment Management Ltd purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 979 shares of the construction company’s stock, valued at approximately $133,000.

A number of other large investors also recently modified their holdings of MTZ. Jacobs Levy Equity Management Inc. lifted its holdings 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 worth $48,928,000 after buying an additional 289,090 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings 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 worth $94,096,000 after buying an additional 279,778 shares during the last quarter. Barclays PLC lifted its holdings in shares of 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 during the last quarter. Raymond James Financial Inc. acquired a new position in shares of MasTec during the fourth quarter worth approximately $17,776,000. Finally, Bank of New York Mellon Corp raised its stake in shares of MasTec by 25.9% in 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 purchasing an additional 114,502 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Price Performance

Shares of MTZ stock opened at $123.89 on Friday. The stock’s fifty day moving average is $135.56 and its 200-day moving average is $132.48. 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 market capitalization of $9.82 billion, a PE ratio of 110.61 and a beta of 1.74. MasTec, Inc. has a 52 week low of $82.29 and a 52 week high of $166.95.

MasTec (NYSE:MTZ) last announced its earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.28 by $0.08. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. Equities research analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Truist Financial upped their target price on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. KeyCorp upped their target price on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, January 8th. Guggenheim assumed coverage on MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price for the company. B. Riley restated a “buy” rating and issued a $165.00 target price (up from $151.00) on shares of MasTec in a research note on Wednesday. Finally, Barclays upped their target price on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $160.07.

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.