Duality Advisers LP Lowers Stake in MasTec, Inc. (NYSE:MTZ)

Duality Advisers LP reduced its stake in MasTec, Inc. (NYSE:MTZ) by 45.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,128 shares of the construction company’s stock after selling 19,106 shares during the period. Duality Advisers LP’s holdings in MasTec were worth $1,751,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MTZ. CWM LLC boosted its holdings in shares of MasTec by 152.4% during the 3rd quarter. CWM LLC now owns 525 shares of the construction company’s stock valued at $38,000 after acquiring an additional 317 shares during the last quarter. Ronald Blue Trust Inc. increased its holdings in MasTec by 75.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 540 shares of the construction company’s stock worth $39,000 after acquiring an additional 232 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of MasTec in the third quarter worth $41,000. Itau Unibanco Holding S.A. purchased a new stake in MasTec in the 3rd quarter worth $43,000. Finally, Castleview Partners LLC raised its stake in MasTec by 1,250.0% during the 3rd quarter. Castleview Partners LLC now owns 1,350 shares of the construction company’s stock valued at $97,000 after purchasing an additional 1,250 shares during the period. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MTZ stock opened at $83.76 on Tuesday. The business has a fifty day moving average of $84.67 and a 200 day moving average of $71.66. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.36 and a current ratio of 1.40. MasTec, Inc. has a 1 year low of $44.65 and a 1 year high of $123.33.

MasTec (NYSE:MTZ) last released its quarterly earnings data on Thursday, February 29th. The construction company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.20. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. Equities research analysts anticipate that MasTec, Inc. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MTZ. Citigroup lifted their price target on shares of MasTec from $99.00 to $104.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird lifted their target price on MasTec from $70.00 to $89.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. DA Davidson reiterated a “buy” rating and issued a $70.00 price target on shares of MasTec in a report on Monday, March 4th. Truist Financial assumed coverage on shares of MasTec in a research note on Thursday, March 14th. They issued a “hold” rating and a $96.00 price objective for the company. Finally, KeyCorp lifted their price target on MasTec from $92.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $96.85.

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.