West Michigan Advisors LLC Makes New $315,000 Investment in MasTec, Inc. (NYSE:MTZ)

West Michigan Advisors LLC purchased a new position in shares of MasTec, Inc. (NYSE:MTZ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,316 shares of the construction company’s stock, valued at approximately $315,000.

Several other hedge funds also recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in MasTec during the third quarter valued at about $25,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec during the 4th quarter worth approximately $25,000. Global Retirement Partners LLC grew its holdings in shares of MasTec by 162.4% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company’s stock worth $42,000 after purchasing an additional 190 shares in the last quarter. R Squared Ltd bought a new stake in shares of MasTec during the fourth quarter valued at approximately $44,000. Finally, True Wealth Design LLC acquired a new position in shares of MasTec in the third quarter valued at $57,000. 78.10% of the stock is owned by institutional investors.

MasTec Price Performance

MasTec stock opened at $130.55 on Friday. The business’s fifty day moving average is $141.60 and its two-hundred day moving average is $131.44. 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 $10.34 billion, a P/E ratio of 116.56 and a beta of 1.73. MasTec, Inc. has a 52 week low of $73.85 and a 52 week high of $166.95.

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, topping the consensus estimate of $1.28 by $0.08. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. Equities research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MTZ shares. KeyCorp lifted their price target on shares of MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their target price on shares of MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Craig Hallum increased their price target on shares of MasTec from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Stifel Nicolaus lifted their price objective on MasTec from $155.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Robert W. Baird upped their price objective on MasTec from $120.00 to $153.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $158.57.

MasTec Company Profile

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.