Peregrine Capital Management LLC Purchases 123,299 Shares of MasTec, Inc. (NYSE:MTZ)

Peregrine Capital Management LLC lifted its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 909.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,852 shares of the construction company's stock after acquiring an additional 123,299 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.17% of MasTec worth $10,362,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MTZ. CWM LLC grew its stake in shares of MasTec by 152.4% in the 3rd quarter. CWM LLC now owns 525 shares of the construction company's stock worth $38,000 after acquiring an additional 317 shares in the last quarter. Ronald Blue Trust Inc. grew its position in MasTec by 75.3% during the third quarter. Ronald Blue Trust Inc. now owns 540 shares of the construction company's stock valued at $39,000 after buying an additional 232 shares during the period. Headlands Technologies LLC bought a new position in MasTec during the third quarter valued at about $41,000. Itau Unibanco Holding S.A. bought a new position in MasTec during the third quarter valued at about $43,000. Finally, Covestor Ltd grew its position in MasTec by 40.1% during the first quarter. Covestor Ltd now owns 507 shares of the construction company's stock valued at $44,000 after buying an additional 145 shares during the period. Institutional investors own 78.10% of the company's stock.

MasTec Trading Down 1.2 %

NYSE:MTZ traded down $1.13 during midday trading on Tuesday, reaching $93.03. 636,206 shares of the stock traded hands, compared to its average volume of 946,393. The company has a fifty day moving average of $81.70 and a 200 day moving average of $70.69. MasTec, Inc. has a 12 month low of $44.65 and a 12 month 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 stock has a market capitalization of $7.39 billion, a P/E ratio of -140.95 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 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 company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. On average, research analysts predict that MasTec, Inc. will post 2.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays increased their price target on shares of MasTec from $55.00 to $106.00 and gave the company an "overweight" rating in a research report on Tuesday, March 5th. The Goldman Sachs Group increased their price target on shares of MasTec from $54.00 to $61.00 and gave the company a "neutral" rating in a research report on Friday, February 9th. Robert W. Baird increased their price target on shares of MasTec from $70.00 to $89.00 and gave the company a "neutral" rating in a research report on Monday, March 4th. TD Cowen upped their price objective on shares of MasTec from $85.00 to $105.00 and gave the company an "outperform" rating in a report on Monday, March 4th. Finally, Truist Financial initiated coverage on shares of MasTec in a report on Thursday, March 14th. They set a "hold" rating and a $96.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, MasTec currently has a consensus rating of "Moderate Buy" and an average price target of $96.46.

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.