Cartenna Capital LP Takes Position in MasTec, Inc. (NYSE:MTZ)

Cartenna Capital LP bought a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 172,190 shares of the construction company's stock, valued at approximately $23,442,000. MasTec comprises 1.1% of Cartenna Capital LP's holdings, making the stock its 24th largest holding. Cartenna Capital LP owned 0.22% of MasTec as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MTZ. Hood River Capital Management LLC increased its position in shares of MasTec by 3.5% during the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock valued at $208,444,000 after acquiring an additional 51,531 shares during the last quarter. First Trust Advisors LP grew its stake in shares of MasTec by 173.8% in the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock worth $80,021,000 after acquiring an additional 373,145 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of MasTec by 25.9% during the fourth quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock worth $75,787,000 after purchasing an additional 114,502 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of MasTec during the fourth quarter worth $59,910,000. Finally, Prudential Financial Inc. grew its stake in shares of MasTec by 52.4% during the fourth quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company's stock worth $55,162,000 after purchasing an additional 139,235 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

MasTec Price Performance

Shares of NYSE:MTZ traded up $0.54 on Tuesday, hitting $126.71. The company had a trading volume of 218,405 shares, compared to its average volume of 1,159,307. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 52-week low of $86.12 and a 52-week high of $166.95. The business has a 50 day moving average of $120.17 and a 200 day moving average of $132.51. The company has a market cap of $10.02 billion, a PE ratio of 113.13 and a beta of 1.62.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.28 by $0.08. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.32 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. As a group, equities analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the sale, the director now directly owns 23,000 shares in the company, valued at $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on MTZ shares. Citigroup lowered their target price on shares of MasTec from $167.00 to $152.00 and set a "buy" rating for the company in a research note on Friday. KeyCorp decreased their price objective on shares of MasTec from $168.00 to $140.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Guggenheim restated a "buy" rating and issued a $195.00 price objective on shares of MasTec in a research note on Tuesday, March 25th. Truist Financial decreased their price objective on shares of MasTec from $197.00 to $154.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Piper Sandler began coverage on shares of MasTec in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $134.00 price objective for the company. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $151.00.

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.