Thrivent Financial for Lutherans Raises Stock Position in MasTec, Inc. $MTZ

Thrivent Financial for Lutherans grew its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 14.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,593 shares of the construction company’s stock after acquiring an additional 2,158 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MasTec were worth $3,531,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MTZ. Versant Capital Management Inc increased its stake in MasTec by 4.9% during the third quarter. Versant Capital Management Inc now owns 1,092 shares of the construction company’s stock worth $232,000 after acquiring an additional 51 shares during the last quarter. Rothschild Investment LLC boosted its holdings in shares of MasTec by 22.5% in the 2nd quarter. Rothschild Investment LLC now owns 338 shares of the construction company’s stock worth $58,000 after purchasing an additional 62 shares during the period. Fifth Third Wealth Advisors LLC increased its position in shares of MasTec by 4.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,130 shares of the construction company’s stock valued at $453,000 after purchasing an additional 91 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in MasTec by 4.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,982 shares of the construction company’s stock valued at $338,000 after buying an additional 93 shares during the period. Finally, Salomon & Ludwin LLC raised its holdings in MasTec by 344.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after buying an additional 93 shares during the period. Institutional investors own 78.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MTZ. Truist Financial lifted their price objective on shares of MasTec from $253.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Barclays lifted their price target on shares of MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 23rd. Zacks Research raised shares of MasTec from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 30th. Stifel Nicolaus boosted their target price on MasTec from $240.00 to $267.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Finally, Robert W. Baird increased their price target on MasTec from $238.00 to $249.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, MasTec has a consensus rating of “Buy” and an average target price of $238.16.

MasTec Price Performance

Shares of MTZ stock opened at $258.82 on Monday. The company has a market capitalization of $20.42 billion, a P/E ratio of 61.48 and a beta of 1.94. The company’s 50-day simple moving average is $229.51 and its two-hundred day simple moving average is $207.14. MasTec, Inc. has a one year low of $99.70 and a one year high of $260.25. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30.

About MasTec

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.