Cetera Trust Company N.A Invests $160,000 in MasTec, Inc. (NYSE:MTZ)

Cetera Trust Company N.A acquired a new position in shares of MasTec, Inc. (NYSE:MTZ) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,110 shares of the construction company’s stock, valued at approximately $160,000.

Several other large investors have also modified their holdings of the stock. Nordea Investment Management AB raised its holdings in MasTec by 35.0% in the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock valued at $297,006,000 after buying an additional 1,027,085 shares during the period. CI Investments Inc. raised its holdings in MasTec by 44,834.1% in the third quarter. CI Investments Inc. now owns 798,029 shares of the construction company’s stock valued at $57,434,000 after buying an additional 796,253 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in MasTec by 7,110.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 359,144 shares of the construction company’s stock valued at $25,848,000 after buying an additional 354,163 shares during the period. Schroder Investment Management Group raised its holdings in MasTec by 142.0% in the third quarter. Schroder Investment Management Group now owns 315,272 shares of the construction company’s stock valued at $22,690,000 after buying an additional 185,020 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in MasTec in the third quarter valued at approximately $11,609,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MTZ. Robert W. Baird raised their price target on shares of MasTec from $70.00 to $89.00 and gave the company a “neutral” rating in a report on Monday, March 4th. KeyCorp lifted their price objective on shares of MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. The Goldman Sachs Group lifted their price objective on shares of MasTec from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. DA Davidson reiterated a “buy” rating and set a $70.00 price objective on shares of MasTec in a research note on Monday, March 4th. Finally, UBS Group lifted their price objective on shares of MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.85.

MasTec Stock Down 0.8 %

MTZ stock opened at $83.76 on Tuesday. MasTec, Inc. has a twelve month low of $44.65 and a twelve month high of $123.33. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $6.66 billion, a P/E ratio of -126.91 and a beta of 1.62. The firm has a 50 day simple moving average of $84.67 and a 200-day simple moving average of $71.66.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. On average, equities research analysts predict that MasTec, Inc. will post 2.33 earnings per share for the current fiscal year.

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.