Chung Wu Investment Group LLC Invests $498,000 in MasTec, Inc. (NYSE:MTZ)

Chung Wu Investment Group LLC purchased a new position in MasTec, Inc. (NYSE:MTZ) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,660 shares of the construction company’s stock, valued at approximately $498,000.

Several other institutional investors also recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of MasTec by 15.1% in the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company’s stock worth $81,000 after buying an additional 78 shares in the last quarter. CIBC Asset Management Inc lifted its position in MasTec by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 2,280 shares of the construction company’s stock valued at $281,000 after acquiring an additional 82 shares in the last quarter. Arizona State Retirement System boosted its stake in MasTec by 0.5% during the 4th quarter. Arizona State Retirement System now owns 18,393 shares of the construction company’s stock valued at $2,504,000 after purchasing an additional 89 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of MasTec by 2.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,425 shares of the construction company’s stock worth $423,000 after purchasing an additional 94 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in shares of MasTec by 0.4% in the third quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock worth $3,269,000 after purchasing an additional 100 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup lifted their price objective on MasTec from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial increased their price objective on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. KeyCorp upped their target price on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Stifel Nicolaus dropped their price target on shares of MasTec from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Robert W. Baird reduced their price objective on MasTec from $162.00 to $153.00 and set a “neutral” rating for the company in a research note on Monday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.14.

MasTec Price Performance

Shares of NYSE:MTZ opened at $128.03 on Thursday. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 114.31 and a beta of 1.73. The firm has a fifty day moving average price of $141.10 and a 200 day moving average price of $131.97. MasTec, Inc. has a fifty-two week low of $82.29 and a fifty-two week 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.

MasTec (NYSE:MTZ) last released its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share 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 analyst estimates of $3.32 billion. As a group, sell-side analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal 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.