Allspring Global Investments Holdings LLC Cuts Position in MasTec, Inc. (NYSE:MTZ)

Allspring Global Investments Holdings LLC lessened its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,496,154 shares of the construction company's stock after selling 161,913 shares during the period. Allspring Global Investments Holdings LLC owned approximately 4.44% of MasTec worth $264,729,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MTZ. International Assets Investment Management LLC raised its holdings in shares of MasTec by 6,849.8% in the 4th quarter. International Assets Investment Management LLC now owns 79,506 shares of the construction company's stock worth $6,020,000 after purchasing an additional 78,362 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of MasTec by 10.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 44,381 shares of the construction company's stock worth $3,355,000 after purchasing an additional 4,229 shares during the period. Oak Thistle LLC bought a new stake in shares of MasTec in the 4th quarter worth approximately $883,000. Assenagon Asset Management S.A. raised its holdings in shares of MasTec by 103.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 140,736 shares of the construction company's stock worth $10,657,000 after purchasing an additional 71,616 shares during the period. Finally, Thompson Investment Management Inc. raised its holdings in shares of MasTec by 20.0% in the 4th quarter. Thompson Investment Management Inc. now owns 8,090 shares of the construction company's stock worth $613,000 after purchasing an additional 1,350 shares during the period. Hedge funds and other institutional investors own 78.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Stifel Nicolaus lifted their price target on shares of MasTec from $70.00 to $84.00 and gave the stock a "buy" rating in a report on Tuesday, December 19th. The Goldman Sachs Group boosted their target price on shares of MasTec from $54.00 to $61.00 and gave the company a "neutral" rating in a report on Friday, February 9th. KeyCorp boosted their target price on shares of MasTec from $92.00 to $97.00 and gave the company an "overweight" rating in a report on Monday, March 4th. DA Davidson reissued a "buy" rating and set a $70.00 target price on shares of MasTec in a report on Monday, March 4th. Finally, TD Cowen upped their price target on shares of MasTec from $85.00 to $105.00 and gave the stock an "outperform" rating in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $96.46.

MasTec Trading Up 0.8 %

NYSE MTZ traded up $0.77 during trading on Monday, hitting $94.16. 409,834 shares of the company's stock traded hands, compared to its average volume of 950,993. The stock has a fifty day moving average of $81.18 and a two-hundred day moving average of $70.58. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.40 and a quick ratio of 1.36. MasTec, Inc. has a 12-month low of $44.65 and a 12-month high of $123.33. The firm has a market cap of $7.48 billion, a P/E ratio of -142.67 and a beta of 1.62.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $3.26 billion. As a group, sell-side analysts expect that MasTec, Inc. will post 2.33 EPS for the current year.

MasTec Company 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.

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