Legato Capital Management LLC Grows Stock Position in MasTec, Inc. (NYSE:MTZ)

Legato Capital Management LLC lifted its stake in MasTec, Inc. (NYSE:MTZ) by 34.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 13,409 shares of the construction company’s stock after acquiring an additional 3,435 shares during the period. Legato Capital Management LLC’s holdings in MasTec were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in MTZ. International Assets Investment Management LLC grew its stake in MasTec by 6,849.8% during the 4th quarter. International Assets Investment Management LLC now owns 79,506 shares of the construction company’s stock valued at $6,020,000 after acquiring an additional 78,362 shares in the last quarter. CWM LLC boosted its position in shares of MasTec by 59.4% in the 4th quarter. CWM LLC now owns 837 shares of the construction company’s stock valued at $63,000 after purchasing an additional 312 shares during the period. State of New Jersey Common Pension Fund D boosted its position in MasTec by 23.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 45,842 shares of the construction company’s stock worth $3,471,000 after acquiring an additional 8,689 shares during the period. Bruni J V & Co. Co. raised its stake in shares of MasTec by 2.2% during the 4th quarter. Bruni J V & Co. Co. now owns 237,975 shares of the construction company’s stock worth $18,019,000 after purchasing an additional 5,189 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of MasTec by 16.1% in the 4th quarter. Retirement Systems of Alabama now owns 183,689 shares of the construction company’s stock valued at $13,909,000 after acquiring an additional 25,534 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

MasTec Trading Down 0.3 %

Shares of MTZ traded down $0.31 during mid-day trading on Tuesday, hitting $110.57. The company had a trading volume of 155,800 shares, compared to its average volume of 857,377. The stock has a market cap of $8.79 billion, a PE ratio of -791.29 and a beta of 1.65. The company has a quick ratio of 1.27, a current ratio of 1.31 and a debt-to-equity ratio of 0.94. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $113.69. The business’s 50-day simple moving average is $107.00 and its 200-day simple moving average is $97.90.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. MasTec had a net margin of 0.06% and a return on equity of 6.44%. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company earned $0.81 EPS. MasTec’s revenue was up 3.0% on a year-over-year basis. Sell-side analysts forecast that MasTec, Inc. will post 2.59 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on MTZ shares. Citigroup lifted their price objective on MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. KeyCorp upped their target price on MasTec from $113.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, May 13th. StockNews.com upgraded shares of MasTec from a “hold” rating to a “buy” rating in a report on Monday, May 6th. Truist Financial reiterated a “hold” rating and set a $112.00 target price (up from $109.00) on shares of MasTec in a report on Monday, August 5th. Finally, Robert W. Baird lifted their target price on shares of MasTec from $89.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, MasTec presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.50.

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.