Wealthfront Advisers LLC Makes New $4.79 Million Investment in MasTec, Inc. (NYSE:MTZ)

Wealthfront Advisers LLC bought a new position in MasTec, Inc. (NYSE:MTZ) during the fourth quarter, Holdings Channel reports. The institutional investor bought 35,204 shares of the construction company’s stock, valued at approximately $4,793,000.

A number of other large investors have also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in MasTec by 65.6% in the third quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after acquiring an additional 895,227 shares during the last quarter. State Street Corp lifted its holdings in MasTec by 1.4% in the third quarter. State Street Corp now owns 1,823,967 shares of the construction company’s stock worth $224,530,000 after acquiring an additional 24,522 shares during the last quarter. Geode Capital Management LLC lifted its holdings in MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock worth $126,370,000 after acquiring an additional 16,844 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of MasTec by 57.7% during the third quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock valued at $94,096,000 after buying an additional 279,778 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of MasTec by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock valued at $77,592,000 after buying an additional 7,469 shares during the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Trading Up 3.2 %

MasTec stock opened at $118.17 on Thursday. 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 firm has a market cap of $9.37 billion, a price-to-earnings ratio of 105.51 and a beta of 1.74. MasTec, Inc. has a 1 year low of $82.29 and a 1 year high of $166.95. The firm’s 50 day moving average price is $139.12 and its two-hundred day moving average price is $132.16.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. 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. 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. JPMorgan Chase & Co. lifted 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 lifted 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. Finally, KeyCorp lifted their price target on MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Two equities 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 stock has an average rating of “Moderate Buy” and a consensus target price 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.