Luminus Management LLC reduced its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 21.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 517,750 shares of the construction company’s stock after selling 141,633 shares during the period. Luminus Management LLC owned 0.63% of MasTec worth $25,343,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. FNY Partners Fund LP purchased a new position in MasTec during the 4th quarter valued at about $122,000. Steward Partners Investment Advisory LLC purchased a new position in MasTec during the 4th quarter valued at about $146,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in MasTec by 53.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,387 shares of the construction company’s stock valued at $166,000 after acquiring an additional 1,175 shares during the period. Stone Ridge Asset Management LLC purchased a new position in MasTec during the 4th quarter valued at about $205,000. Finally, Pitcairn Co. purchased a new position in MasTec during the 4th quarter valued at about $206,000. 78.96% of the stock is owned by institutional investors.
MasTec, Inc. (NYSE:MTZ) opened at $51.50 on Monday. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.89. The stock has a market cap of $4,265.48, a PE ratio of 18.80, a price-to-earnings-growth ratio of 1.09 and a beta of 1.48. MasTec, Inc. has a twelve month low of $36.40 and a twelve month high of $55.53.
A number of brokerages recently issued reports on MTZ. DA Davidson lifted their price target on shares of MasTec to $65.00 and gave the company a “buy” rating in a research report on Thursday, March 1st. B. Riley lifted their price target on shares of MasTec from $70.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, March 1st. Robert W. Baird cut shares of MasTec from an “outperform” rating to a “neutral” rating and set a $55.00 price target for the company. in a research report on Thursday, March 1st. Credit Suisse Group reissued an “outperform” rating and set a $70.00 price target (up from $69.00) on shares of MasTec in a research report on Thursday, March 1st. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $65.00 target price on shares of MasTec in a report on Thursday, March 1st. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $61.01.
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MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure.
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