Daiwa Securities Group Inc. Buys 5,200 Shares of MasTec, Inc. (NYSE:MTZ)

Daiwa Securities Group Inc. lifted its stake in shares of MasTec, Inc. (NYSE:MTZ) by 8.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 70,500 shares of the construction company’s stock after acquiring an additional 5,200 shares during the period. Daiwa Securities Group Inc.’s holdings in MasTec were worth $9,598,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. raised its holdings 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 purchasing an additional 895,227 shares during the period. State Street Corp increased its position in MasTec by 1.4% in the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock valued at $224,530,000 after buying an additional 24,522 shares in the last quarter. Geode Capital Management LLC raised its stake in MasTec by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after buying an additional 16,844 shares during the period. Point72 Asset Management L.P. boosted its holdings in MasTec by 57.7% in the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after acquiring an additional 279,778 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in MasTec by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock valued at $77,592,000 after acquiring an additional 7,469 shares during the period. 78.10% of the stock is owned by institutional investors.

MasTec Stock Performance

MTZ stock opened at $114.66 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market cap of $9.09 billion, a PE ratio of 102.38 and a beta of 1.74. The business has a 50 day moving average of $139.55 and a 200-day moving average of $132.14. MasTec, Inc. has a 12-month low of $82.29 and a 12-month high of $166.95.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, February 27th. The construction company reported $1.36 earnings per share (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 firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. As a group, sell-side analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MTZ shares. KeyCorp upped their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Barclays lifted their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Robert W. Baird lowered their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, Citigroup lifted their price target on MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.14.

MasTec Company 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.