Principal Financial Group Inc. grew its holdings in MasTec, Inc. (NYSE:MTZ – Get Rating) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 231,421 shares of the construction company’s stock after acquiring an additional 8,383 shares during the quarter. Principal Financial Group Inc.’s holdings in MasTec were worth $19,747,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. Greenwood Capital Associates LLC lifted its holdings in shares of MasTec by 1.2% during the fourth quarter. Greenwood Capital Associates LLC now owns 10,051 shares of the construction company’s stock worth $858,000 after purchasing an additional 120 shares during the period. Eaton Vance Management lifted its holdings in shares of MasTec by 0.3% during the third quarter. Eaton Vance Management now owns 39,454 shares of the construction company’s stock worth $2,505,000 after purchasing an additional 128 shares during the period. NorthCrest Asset Manangement LLC lifted its holdings in shares of MasTec by 1.0% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 13,630 shares of the construction company’s stock worth $1,163,000 after purchasing an additional 130 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of MasTec by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 15,124 shares of the construction company’s stock worth $960,000 after purchasing an additional 132 shares during the period. Finally, Huntington National Bank raised its position in MasTec by 54.5% during the fourth quarter. Huntington National Bank now owns 411 shares of the construction company’s stock valued at $35,000 after acquiring an additional 145 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently weighed in on MTZ. B. Riley lifted their price target on MasTec from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, February 28th. Credit Suisse Group dropped their price target on MasTec from $122.00 to $121.00 and set an “outperform” rating for the company in a research report on Monday, February 27th. Craig Hallum upgraded MasTec from a “hold” rating to a “buy” rating and boosted their price target for the stock from $97.00 to $113.00 in a research report on Monday, May 8th. Robert W. Baird boosted their price objective on MasTec from $120.00 to $125.00 in a research note on Monday, May 8th. Finally, StockNews.com assumed coverage on MasTec in a research note on Thursday. They issued a “hold” rating on the stock. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.60.
MasTec Stock Down 2.0 %
MasTec (NYSE:MTZ – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The construction company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.01. MasTec had a positive return on equity of 6.60% and a negative net margin of 0.12%. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Equities research analysts forecast that MasTec, Inc. will post 4.34 earnings per share for the current year.
MasTec, Inc engages in the provision of infrastructure construction services. It operates through the following segments: Communications, Oil and Gas, Clean Energy and Infrastructure, and Other. The Communications segment performs engineering, construction, maintenance, and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, and install-to-the-home customers.
- Get a free copy of the StockNews.com research report on MasTec (MTZ)
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