Chung Wu Investment Group LLC Invests $498,000 in MasTec, Inc. (NYSE:MTZ)

Chung Wu Investment Group LLC acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the fourth quarter, Holdings Channel reports. The firm acquired 3,660 shares of the construction company’s stock, valued at approximately $498,000.

A number of other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. boosted 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 valued at $278,312,000 after purchasing an additional 895,227 shares in the last quarter. State Street Corp lifted its stake in shares of MasTec by 1.4% during the 3rd quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after purchasing an additional 24,522 shares during the last quarter. Geode Capital Management LLC grew its stake in MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares during the last quarter. Point72 Asset Management L.P. raised 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 purchasing an additional 279,778 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of MasTec by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock valued at $77,592,000 after buying an additional 7,469 shares in the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Robert W. Baird reduced their price objective on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday. KeyCorp boosted their target price on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Stifel Nicolaus decreased their price target on MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday. Citigroup upped their price objective on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. lifted their target price on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $160.14.

MasTec Trading Up 3.3 %

MasTec stock opened at $128.03 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The firm has a market cap of $10.14 billion, a PE ratio of 114.31 and a beta of 1.73. The stock’s 50 day simple moving average is $141.10 and its two-hundred day simple moving average is $131.97. MasTec, Inc. has a 12 month low of $82.29 and a 12 month high of $166.95.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.28 by $0.08. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. Analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

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.