Picton Mahoney Asset Management Buys Shares of 5,719 MasTec, Inc. (NYSE:MTZ)

Picton Mahoney Asset Management purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,719 shares of the construction company’s stock, valued at approximately $433,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTZ. Nordea Investment Management AB grew its stake in MasTec by 35.0% in the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock valued at $297,006,000 after acquiring an additional 1,027,085 shares during the period. CI Investments Inc. grew its position in MasTec by 44,834.1% in the 3rd quarter. CI Investments Inc. now owns 798,029 shares of the construction company’s stock valued at $57,434,000 after purchasing an additional 796,253 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in MasTec by 7,110.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 359,144 shares of the construction company’s stock valued at $25,848,000 after purchasing an additional 354,163 shares in the last quarter. Schroder Investment Management Group raised its holdings in MasTec by 142.0% during the third quarter. Schroder Investment Management Group now owns 315,272 shares of the construction company’s stock worth $22,690,000 after buying an additional 185,020 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of MasTec in the third quarter valued at $11,609,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group lifted their price target on MasTec from $89.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. KeyCorp upped their price target on MasTec from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday. Citigroup raised their price objective on MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. DA Davidson lifted their price objective on shares of MasTec from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Barclays increased their target price on shares of MasTec from $106.00 to $130.00 and gave the company an “overweight” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, MasTec has an average rating of “Moderate Buy” and a consensus target price of $111.08.

MasTec Price Performance

MasTec stock opened at $105.17 on Thursday. The business’s 50 day simple moving average is $89.87 and its 200 day simple moving average is $73.92. MasTec, Inc. has a 12 month low of $44.65 and a 12 month high of $123.33. The company has a market cap of $8.36 billion, a price-to-earnings ratio of -751.21 and a beta of 1.61. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.20. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. Sell-side analysts forecast that MasTec, Inc. will post 2.33 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.