Prudential Financial Inc. Has $55.16 Million Position in MasTec, Inc. (NYSE:MTZ)

Prudential Financial Inc. lifted its position in shares of MasTec, Inc. (NYSE:MTZ) by 52.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 405,187 shares of the construction company’s stock after purchasing an additional 139,235 shares during the period. Prudential Financial Inc. owned 0.51% of MasTec worth $55,162,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. increased its position in MasTec by 266.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 397,467 shares of the construction company’s stock worth $48,928,000 after buying an additional 289,090 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of MasTec by 57.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,389 shares of the construction company’s stock worth $94,096,000 after acquiring an additional 279,778 shares during the period. Barclays PLC increased its holdings in shares of MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company’s stock worth $29,797,000 after acquiring an additional 209,472 shares during the last quarter. Raymond James Financial Inc. bought a new stake in MasTec in the 4th quarter valued at $17,776,000. Finally, Bank of New York Mellon Corp lifted its holdings in MasTec by 25.9% during the 4th quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company’s stock valued at $75,787,000 after purchasing an additional 114,502 shares during the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Stock Performance

MasTec stock opened at $131.93 on Tuesday. The stock has a market cap of $10.46 billion, a PE ratio of 117.80 and a beta of 1.74. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 12-month low of $82.29 and a 12-month high of $166.95. The business’s 50-day moving average price is $135.32 and its two-hundred day moving average price is $133.09.

MasTec (NYSE:MTZ) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.08. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.32 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. As a group, analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MTZ has been the topic of several research analyst reports. Guggenheim started coverage on shares of MasTec in a research report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 price objective on the stock. Citigroup upped their price target on shares of MasTec from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Stifel Nicolaus dropped their price objective on shares of MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Barclays increased their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, KeyCorp lifted their price target on shares of MasTec from $153.00 to $168.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $160.07.

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.