Raiffeisen Bank International AG Lowers Stock Position in MasTec, Inc. $MTZ

Raiffeisen Bank International AG trimmed its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 31.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,000 shares of the construction company’s stock after selling 29,000 shares during the period. Raiffeisen Bank International AG’s holdings in MasTec were worth $12,992,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. L & S Advisors Inc acquired a new position in MasTec during the third quarter worth $3,376,000. Hodges Capital Management Inc. boosted its position in shares of MasTec by 6.4% during the 3rd quarter. Hodges Capital Management Inc. now owns 28,749 shares of the construction company’s stock worth $6,118,000 after purchasing an additional 1,721 shares in the last quarter. First National Bank of Omaha acquired a new position in shares of MasTec during the 3rd quarter worth $5,444,000. Crestwood Advisors Group LLC increased its holdings in shares of MasTec by 3.1% in the 3rd quarter. Crestwood Advisors Group LLC now owns 1,738 shares of the construction company’s stock valued at $370,000 after purchasing an additional 53 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new stake in shares of MasTec in the third quarter valued at about $253,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Performance

Shares of NYSE MTZ opened at $283.58 on Friday. The company has a 50-day simple moving average of $239.09 and a 200-day simple moving average of $212.66. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.33 and a quick ratio of 1.30. The company has a market cap of $22.38 billion, a PE ratio of 67.36 and a beta of 1.94. MasTec, Inc. has a 12 month low of $99.70 and a 12 month high of $284.68.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays upped their target price on shares of MasTec from $240.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of MasTec in a report on Monday, December 29th. Mizuho set a $254.00 price objective on MasTec in a report on Monday, November 3rd. KeyCorp reiterated an “overweight” rating and set a $264.00 target price on shares of MasTec in a research report on Wednesday, January 7th. Finally, Wall Street Zen cut MasTec from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $238.16.

MasTec Profile

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.