Natixis Advisors LLC Buys Shares of 11,735 MasTec, Inc. (NYSE:MTZ)

Natixis Advisors LLC acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,735 shares of the construction company’s stock, valued at approximately $1,256,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Hobbs Group Advisors LLC acquired a new stake in MasTec during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC increased its holdings in shares of MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares during the period. Quarry LP acquired a new position in MasTec during the fourth quarter worth about $37,000. Blue Trust Inc. grew its holdings in MasTec by 32.6% during the second quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after acquiring an additional 138 shares during the period. Finally, Rise Advisors LLC grew its holdings in MasTec by 200.0% during the second quarter. Rise Advisors LLC now owns 588 shares of the construction company’s stock worth $63,000 after acquiring an additional 392 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MTZ shares. Stifel Nicolaus boosted their price objective on MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Citigroup increased their price objective on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. B. Riley increased their price objective on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Truist Financial restated a “hold” rating and set a $112.00 target price (up previously from $109.00) on shares of MasTec in a report on Monday, August 5th. Finally, The Goldman Sachs Group raised their price target on MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.50.

MasTec Trading Up 1.3 %

NYSE MTZ opened at $102.78 on Wednesday. The stock’s 50-day moving average is $106.58 and its 200-day moving average is $100.59. MasTec, Inc. has a one year low of $44.65 and a one year high of $113.69. The firm has a market cap of $8.14 billion, a P/E ratio of -734.14 and a beta of 1.70. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.27 and a quick ratio of 1.23.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the company earned $0.81 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts anticipate that MasTec, Inc. will post 2.71 earnings per share 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.