GS Investments Inc. Decreases Stake in MasTec, Inc. (NYSE:MTZ)

GS Investments Inc. decreased its stake in MasTec, Inc. (NYSE:MTZ) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,630 shares of the construction company’s stock after selling 1,940 shares during the period. MasTec makes up 2.0% of GS Investments Inc.’s investment portfolio, making the stock its 21st largest holding. GS Investments Inc.’s holdings in MasTec were worth $4,442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MTZ. Pacer Advisors Inc. raised its stake in shares of MasTec by 65.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,260,865 shares of the construction company’s stock worth $278,312,000 after buying an additional 895,227 shares during the last quarter. State Street Corp raised its position in MasTec by 1.4% during 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 grew its position in shares of MasTec by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,026,295 shares of the construction company’s stock valued at $126,370,000 after purchasing an additional 16,844 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after purchasing an additional 279,778 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of MasTec by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,315 shares of the construction company’s stock worth $77,592,000 after purchasing an additional 7,469 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Up 3.7 %

Shares of MTZ stock opened at $125.97 on Thursday. MasTec, Inc. has a twelve month low of $82.29 and a twelve month high of $166.95. 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 stock’s 50 day simple moving average is $136.38 and its 200 day simple moving average is $132.44. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 112.47 and a beta of 1.74.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MTZ. Barclays raised their price target on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. upped their target price on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Guggenheim started coverage on MasTec in a research note on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price target on the stock. Truist Financial upped their price objective on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, B. Riley reissued a “buy” rating and issued a $165.00 target price (up from $151.00) on shares of MasTec in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.07.

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.