Convergence Investment Partners LLC Has $528,000 Stake in MasTec, Inc. $MTZ

Convergence Investment Partners LLC reduced its position in MasTec, Inc. (NYSE:MTZ) by 67.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,481 shares of the construction company’s stock after selling 5,074 shares during the quarter. Convergence Investment Partners LLC’s holdings in MasTec were worth $528,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc lifted its holdings in MasTec by 4.9% in the third quarter. Versant Capital Management Inc now owns 1,092 shares of the construction company’s stock valued at $232,000 after buying an additional 51 shares during the period. Rothschild Investment LLC raised its position in shares of MasTec by 22.5% in the 2nd quarter. Rothschild Investment LLC now owns 338 shares of the construction company’s stock worth $58,000 after acquiring an additional 62 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of MasTec by 4.5% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,130 shares of the construction company’s stock valued at $453,000 after purchasing an additional 91 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of MasTec by 4.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company’s stock valued at $338,000 after purchasing an additional 93 shares during the period. Finally, Salomon & Ludwin LLC boosted its position in shares of MasTec by 344.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Trading Up 1.9%

NYSE:MTZ opened at $245.14 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. The firm has a 50-day moving average of $226.54 and a 200-day moving average of $205.18. The company has a market cap of $19.34 billion, a PE ratio of 58.23 and a beta of 1.94. MasTec, Inc. has a one year low of $99.70 and a one year high of $250.99.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MTZ shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of MasTec in a report on Monday, December 29th. Stifel Nicolaus boosted their target price on shares of MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Zacks Research upgraded shares of MasTec from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Barclays lifted their price target on shares of MasTec from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Finally, Cantor Fitzgerald began coverage on shares of MasTec in a research report on Friday, January 23rd. They set an “overweight” rating and a $274.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $238.16.

About MasTec

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.