Victory Capital Management Inc. Acquires 8,976 Shares of MasTec, Inc. (NYSE:MTZ)

Victory Capital Management Inc. boosted its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 69.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,834 shares of the construction company’s stock after acquiring an additional 8,976 shares during the period. Victory Capital Management Inc.’s holdings in MasTec were worth $2,972,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

MTZ has been the topic of a number of research reports. 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. Barclays boosted their price target on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Truist Financial boosted their price target on MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Robert W. Baird cut their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Finally, Guggenheim started coverage on MasTec in a report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, MasTec currently has an average rating of “Moderate Buy” and an average target price of $160.14.

MasTec Price Performance

Shares of NYSE MTZ opened at $120.61 on Monday. The business’s 50 day moving average price is $137.76 and its two-hundred day moving average price is $132.33. The company has a market cap of $9.56 billion, a PE ratio of 107.69 and a beta of 1.74. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a twelve month low of $82.29 and a twelve month high of $166.95.

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