Candriam S.C.A. Has $14.75 Million Stock Position in MasTec, Inc. $MTZ

Candriam S.C.A. lowered its stake in shares of MasTec, Inc. (NYSE:MTZ) by 57.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,307 shares of the construction company’s stock after selling 95,190 shares during the quarter. Candriam S.C.A. owned about 0.09% of MasTec worth $14,749,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its position in shares of MasTec by 92.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 65,027 shares of the construction company’s stock worth $13,981,000 after purchasing an additional 31,218 shares in the last quarter. Bridge City Capital LLC grew its stake in MasTec by 27.2% during the second quarter. Bridge City Capital LLC now owns 49,357 shares of the construction company’s stock worth $8,412,000 after buying an additional 10,565 shares during the last quarter. Schroder Investment Management Group bought a new stake in MasTec during the second quarter worth about $12,366,000. Marco Investment Management LLC increased its holdings in shares of MasTec by 28.2% during the third quarter. Marco Investment Management LLC now owns 31,605 shares of the construction company’s stock worth $6,726,000 after buying an additional 6,955 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of MasTec by 16.3% in the second quarter. Sterling Capital Management LLC now owns 79,049 shares of the construction company’s stock valued at $13,472,000 after acquiring an additional 11,071 shares during the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Trading Up 1.2%

NYSE:MTZ opened at $262.30 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. MasTec, Inc. has a 1-year low of $99.70 and a 1-year high of $267.94. The firm has a market capitalization of $20.70 billion, a price-to-earnings ratio of 62.30 and a beta of 1.94. The business’s 50-day moving average price is $230.52 and its two-hundred day moving average price is $207.71.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup increased their price target on MasTec from $248.00 to $284.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 29th. Guggenheim restated a “neutral” rating and set a $215.00 target price on shares of MasTec in a report on Wednesday, October 15th. JPMorgan Chase & Co. raised their target price on MasTec from $214.00 to $235.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, Truist Financial lifted their price target on MasTec from $253.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $238.16.

About MasTec

MasTec, Inc is a diversified infrastructure construction company that provides engineering, fabrication, installation and maintenance services across a broad range of end markets. Its principal activities encompass the development of communications networks, oil and gas pipeline systems, electrical transmission and distribution facilities, industrial installations and renewable energy projects.

The company traces its roots to a small cable installation operation in Miami and has grown through a series of strategic acquisitions to become one of the largest infrastructure contractors in North America.