Los Angeles Capital Management LLC Purchases 88,741 Shares of MasTec, Inc. (NYSE:MTZ)

Los Angeles Capital Management LLC grew its position in shares of MasTec, Inc. (NYSE:MTZ) by 341.9% in the 4th quarter, HoldingsChannel reports. The firm owned 114,694 shares of the construction company’s stock after acquiring an additional 88,741 shares during the quarter. Los Angeles Capital Management LLC’s holdings in MasTec were worth $15,614,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of MasTec in the third quarter worth about $25,000. Ameliora Wealth Management Ltd. purchased a new position in shares of MasTec in the fourth quarter worth about $25,000. Global Retirement Partners LLC increased its holdings in shares of MasTec by 162.4% in the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after buying an additional 190 shares during the period. R Squared Ltd purchased a new position in shares of MasTec in the fourth quarter worth about $44,000. Finally, True Wealth Design LLC purchased a new position in shares of MasTec in the third quarter worth about $57,000. Institutional investors own 78.10% of the company’s stock.

MasTec Stock Up 2.3 %

MTZ stock opened at $128.42 on Wednesday. MasTec, Inc. has a fifty-two week low of $69.80 and a fifty-two week high of $166.95. The business’s 50 day moving average price is $141.80 and its two-hundred day moving average price is $131.31. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 114.66 and a beta of 1.73.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Craig Hallum lifted their price objective on MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus lifted their price objective on MasTec from $155.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Truist Financial lifted their price objective on MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Guggenheim started coverage on MasTec in a report on Wednesday, January 8th. They set a “buy” rating and a $195.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $158.57.

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.