Daiwa Securities Group Inc. Decreases Stake in MasTec, Inc. (NYSE:MTZ)

Daiwa Securities Group Inc. lessened its stake in shares of MasTec, Inc. (NYSE:MTZ) by 12.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,500 shares of the construction company’s stock after selling 9,500 shares during the period. Daiwa Securities Group Inc. owned approximately 0.08% of MasTec worth $4,884,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Vontobel Holding Ltd. lifted its stake in shares of MasTec by 16.2% during the fourth quarter. Vontobel Holding Ltd. now owns 1,036,101 shares of the construction company’s stock worth $78,454,000 after buying an additional 144,180 shares during the period. Vanguard Group Inc. lifted its position in MasTec by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company’s stock worth $429,670,000 after acquiring an additional 33,592 shares during the period. Oak Thistle LLC purchased a new stake in MasTec during the 4th quarter valued at about $883,000. Nordea Investment Management AB increased its holdings in shares of 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 purchasing an additional 1,027,085 shares during the period. Finally, Community Trust & Investment Co. increased its holdings in shares of MasTec by 32.3% in the fourth quarter. Community Trust & Investment Co. now owns 235,763 shares of the construction company’s stock valued at $17,852,000 after purchasing an additional 57,570 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on MTZ shares. Citigroup upped their price objective on shares of MasTec from $74.00 to $99.00 and gave the company a “buy” rating in a report on Monday, March 4th. Truist Financial assumed coverage on shares of MasTec in a report on Thursday, March 14th. They issued a “hold” rating and a $96.00 price target on the stock. KeyCorp lifted their price objective on MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. TD Cowen upped their target price on MasTec from $85.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Finally, Barclays raised their target price on MasTec from $55.00 to $106.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.46.

MasTec Price Performance

Shares of MasTec stock opened at $84.45 on Friday. The stock has a market capitalization of $6.71 billion, a P/E ratio of -127.95 and a beta of 1.62. The business has a 50 day simple moving average of $84.46 and a two-hundred day simple moving average of $71.50. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $123.33. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.36.

MasTec (NYSE:MTZ) last posted its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.37 by $0.20. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a positive return on equity of 4.82% and a negative net margin of 0.42%. As a group, analysts predict that MasTec, Inc. will post 2.33 EPS for the current fiscal year.

About MasTec

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.