Raymond James & Associates Acquires 14,608 Shares of MasTec, Inc. (NYSE:MTZ)

Raymond James & Associates grew its stake in shares of MasTec, Inc. (NYSE:MTZ) by 43.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 48,230 shares of the construction company’s stock after purchasing an additional 14,608 shares during the period. Raymond James & Associates’ holdings in MasTec were worth $5,160,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new stake in MasTec in the 4th quarter valued at $37,000. GAMMA Investing LLC lifted its position 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 in the last quarter. Bessemer Group Inc. boosted its holdings in MasTec by 5,436.4% during the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after purchasing an additional 598 shares during the last quarter. Blue Trust Inc. grew its position in MasTec by 32.6% in the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock worth $60,000 after purchasing an additional 138 shares in the last quarter. Finally, CWM LLC increased its stake in MasTec by 59.4% in the 4th quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after buying an additional 312 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Trading Down 0.3 %

NYSE:MTZ opened at $109.89 on Thursday. MasTec, Inc. has a 1 year low of $44.65 and a 1 year high of $113.69. The stock’s fifty day moving average price is $106.97 and its two-hundred day moving average price is $98.26. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.31 and a quick ratio of 1.27. The company has a market cap of $8.73 billion, a P/E ratio of -784.93 and a beta of 1.65.

MasTec (NYSE:MTZ) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. MasTec had a return on equity of 6.44% and a net margin of 0.06%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts expect that MasTec, Inc. will post 2.59 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MTZ shares. Stifel Nicolaus upped their target price on MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, August 5th. Truist Financial restated a “hold” rating and issued a $112.00 price objective (up previously from $109.00) on shares of MasTec in a research note on Monday, August 5th. DA Davidson lifted their target price on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. KeyCorp increased their price target on shares of MasTec from $113.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, TD Cowen lifted their price objective on shares of MasTec from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and an average price target of $117.50.

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.