Convergence Investment Partners LLC Has $528,000 Holdings in MasTec, Inc. $MTZ

Convergence Investment Partners LLC decreased its position in MasTec, Inc. (NYSE:MTZ) by 67.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,481 shares of the construction company’s stock after selling 5,074 shares during the quarter. Convergence Investment Partners LLC’s holdings in MasTec were worth $528,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Salomon & Ludwin LLC boosted its stake in MasTec by 344.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 120 shares of the construction company’s stock valued at $26,000 after purchasing an additional 93 shares during the period. Caldwell Trust Co bought a new position in MasTec during the 2nd quarter worth $29,000. Parkside Financial Bank & Trust lifted its holdings in shares of MasTec by 253.7% during the second quarter. Parkside Financial Bank & Trust now owns 191 shares of the construction company’s stock worth $33,000 after buying an additional 137 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of MasTec in the second quarter valued at about $35,000. Finally, Evelyn Partners Asset Management Ltd bought a new stake in shares of MasTec in the second quarter valued at about $43,000. Institutional investors own 78.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Citigroup raised their price target on shares of MasTec from $248.00 to $284.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Mizuho set a $254.00 target price on shares of MasTec in a research report on Monday, November 3rd. Cantor Fitzgerald began coverage on shares of MasTec in a report on Friday, January 23rd. They set an “overweight” rating and a $274.00 target price on the stock. Barclays boosted their price target on MasTec from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of MasTec in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, MasTec has an average rating of “Buy” and a consensus price target of $238.16.

MasTec Stock Up 1.9%

Shares of NYSE MTZ opened at $245.14 on Tuesday. The company has a market cap of $19.34 billion, a price-to-earnings ratio of 58.23 and a beta of 1.94. 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 12 month low of $99.70 and a 12 month high of $250.99. The stock has a 50-day moving average price of $226.54 and a two-hundred day moving average price of $205.18.

MasTec Profile

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.