Truist Financial Corp Takes Position in MasTec, Inc. (NYSE:MTZ)

Truist Financial Corp bought a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,752 shares of the construction company’s stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in MasTec in the 3rd quarter worth approximately $25,000. Ameliora Wealth Management Ltd. bought a new position in MasTec in the 4th quarter worth approximately $25,000. R Squared Ltd bought a new position in MasTec in the 4th quarter worth approximately $44,000. True Wealth Design LLC bought a new position in MasTec in the 3rd quarter worth approximately $57,000. Finally, UMB Bank n.a. boosted its holdings in MasTec by 29.8% in the 4th quarter. UMB Bank n.a. now owns 492 shares of the construction company’s stock worth $67,000 after buying an additional 113 shares during the period. 78.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup increased their target price on shares of MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus lowered their target price on shares of MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday. Robert W. Baird lowered their target price on shares of MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday. JPMorgan Chase & Co. increased 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. Finally, Guggenheim assumed coverage on shares of MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.14.

MasTec Stock Performance

MasTec stock opened at $118.79 on Friday. The firm’s fifty day moving average price is $140.89 and its 200-day moving average price is $131.95. 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 stock has a market cap of $9.41 billion, a P/E ratio of 106.06 and a beta of 1.73. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week high of $166.95.

MasTec (NYSE:MTZ) last issued its earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.08. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. On average, equities research analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal 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.