Community Trust & Investment Co. Purchases 23,886 Shares of MasTec, Inc. (NYSE:MTZ)

Community Trust & Investment Co. grew its position in MasTec, Inc. (NYSE:MTZ – Get Rating) by 21.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 135,046 shares of the construction company’s stock after purchasing an additional 23,886 shares during the quarter. Community Trust & Investment Co.’s holdings in MasTec were worth $11,523,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MTZ. BlackRock Inc. raised its holdings in MasTec by 2.4% during the first quarter. BlackRock Inc. now owns 5,616,160 shares of the construction company’s stock worth $489,168,000 after buying an additional 134,201 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of MasTec by 8.8% in the first quarter. Vanguard Group Inc. now owns 5,519,211 shares of the construction company’s stock valued at $480,724,000 after acquiring an additional 447,376 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of MasTec by 7.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,306,580 shares of the construction company’s stock valued at $209,967,000 after acquiring an additional 219,922 shares during the period. Nordea Investment Management AB boosted its position in shares of MasTec by 2.8% in the second quarter. Nordea Investment Management AB now owns 3,249,236 shares of the construction company’s stock valued at $228,421,000 after acquiring an additional 89,184 shares during the period. Finally, Macquarie Group Ltd. raised its stake in MasTec by 1.1% in the second 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 in the last quarter. 69.80% of the stock is owned by institutional investors.

MasTec Price Performance

MTZ stock traded down $1.98 during midday trading on Friday, hitting $87.09. The company’s stock had a trading volume of 975,824 shares, compared to its average volume of 635,374. MasTec, Inc. has a 12 month low of $62.36 and a 12 month high of $103.50. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of 207.36 and a beta of 1.39. The company has a 50 day moving average of $96.39 and a two-hundred day moving average of $86.54.

MasTec (NYSE:MTZ – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The construction company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.92 billion. MasTec had a return on equity of 8.30% and a net margin of 0.34%. On average, analysts expect that MasTec, Inc. will post 4.45 EPS for the current year.

Analyst Ratings Changes

MTZ has been the topic of a number of recent analyst reports. Cowen lowered their target price on shares of MasTec from $125.00 to $120.00 in a research note on Tuesday, December 27th. TD Cowen lifted their price target on shares of MasTec from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Monday, March 6th. Robert W. Baird lifted their price target on shares of MasTec from $111.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, February 27th. Credit Suisse Group dropped their target price on shares of MasTec from $122.00 to $121.00 and set an “outperform” rating on the stock in a report on Monday, February 27th. Finally, Cowen lowered their price target on MasTec from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, December 27th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and a consensus target price of $113.18.

MasTec Company Profile

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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.