Assenagon Asset Management S.A. Purchases 71,616 Shares of MasTec, Inc. (NYSE:MTZ)

Assenagon Asset Management S.A. increased its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 103.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,736 shares of the construction company's stock after acquiring an additional 71,616 shares during the period. Assenagon Asset Management S.A. owned about 0.18% of MasTec worth $10,657,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in MasTec by 0.6% during the third quarter. Vanguard Group Inc. now owns 5,970,130 shares of the construction company's stock worth $429,670,000 after acquiring an additional 33,592 shares in the last quarter. BlackRock Inc. grew its holdings in shares of MasTec by 2.4% during the 1st quarter. BlackRock Inc. now owns 5,616,160 shares of the construction company's stock valued at $489,168,000 after purchasing an additional 134,201 shares during the last quarter. Nordea Investment Management AB increased its position in MasTec by 35.0% during the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company's stock worth $297,006,000 after purchasing an additional 1,027,085 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in MasTec by 0.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,658,067 shares of the construction company's stock valued at $263,271,000 after purchasing an additional 17,369 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in MasTec by 1.1% in the 2nd quarter. Macquarie Group Ltd. now owns 2,372,108 shares of the construction company's stock valued at $169,985,000 after purchasing an additional 25,878 shares during the last quarter. 78.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MTZ. Craig Hallum upgraded shares of MasTec from a "hold" rating to a "buy" rating and upped their price target for the stock from $50.00 to $96.00 in a report on Monday, March 4th. KeyCorp upped their target price on MasTec from $92.00 to $97.00 and gave the stock an "overweight" rating in a report on Monday, March 4th. Robert W. Baird lifted their price target on MasTec from $70.00 to $89.00 and gave the company a "neutral" rating in a research note on Monday, March 4th. TD Cowen boosted their price target on MasTec from $85.00 to $105.00 and gave the stock an "outperform" rating in a report on Monday, March 4th. Finally, Stifel Nicolaus raised their price objective on shares of MasTec from $70.00 to $84.00 and gave the company a "buy" rating in a report on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.46.

MasTec Trading Down 0.5 %

Shares of NYSE:MTZ traded down $0.48 during trading on Friday, reaching $93.25. The stock had a trading volume of 546,252 shares, compared to its average volume of 977,340. MasTec, Inc. has a 52 week low of $44.65 and a 52 week high of $123.33. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.36 and a current ratio of 1.40. The firm's fifty day moving average is $77.76 and its 200 day moving average is $70.23. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of -141.29 and a beta of 1.60.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.20. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. The business had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.26 billion. As a group, equities analysts forecast that MasTec, Inc. will post 2.33 EPS for the current fiscal year.

MasTec Profile

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.