Proficio Capital Partners LLC Makes New $5.17 Million Investment in MasTec, Inc. (NYSE:MTZ)

Proficio Capital Partners LLC acquired a new position in shares of MasTec, Inc. (NYSE:MTZ) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 37,983 shares of the construction company’s stock, valued at approximately $5,171,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MTZ. Ameliora Wealth Management Ltd. bought a new stake in shares of MasTec in the fourth quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new stake in MasTec during the third quarter worth about $25,000. Smartleaf Asset Management LLC lifted its position in MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company’s stock worth $36,000 after purchasing an additional 128 shares during the period. Global Retirement Partners LLC lifted its position in MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after purchasing an additional 190 shares during the period. Finally, R Squared Ltd bought a new stake in MasTec during the fourth quarter worth about $44,000. 78.10% of the stock is owned by institutional investors.

MasTec Stock Up 3.5 %

MTZ stock opened at $120.61 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $9.56 billion, a PE ratio of 107.69 and a beta of 1.74. MasTec, Inc. has a twelve month low of $82.29 and a twelve month high of $166.95. The stock has a 50-day simple moving average of $137.76 and a two-hundred day simple moving average of $132.33.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on MTZ. Robert W. Baird lowered their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Stifel Nicolaus cut their price target on MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. KeyCorp increased their price target on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, Barclays increased their target price on MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $160.14.

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.