Polar Asset Management Partners Inc. Buys Shares of 22,300 MasTec, Inc. (NYSE:MTZ)

Polar Asset Management Partners Inc. purchased a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 22,300 shares of the construction company's stock, valued at approximately $3,036,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Hood River Capital Management LLC lifted its stake in shares of MasTec by 3.5% during the 4th quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock worth $208,444,000 after acquiring an additional 51,531 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of MasTec by 13.3% in the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock valued at $106,117,000 after acquiring an additional 91,564 shares during the period. Balyasny Asset Management L.P. increased its holdings in shares of MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock valued at $85,451,000 after acquiring an additional 363,502 shares during the period. First Trust Advisors LP increased its holdings in shares of MasTec by 173.8% in the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after acquiring an additional 373,145 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of MasTec by 25.9% in the 4th 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. 78.10% of the stock is owned by institutional investors.

MasTec Price Performance

MTZ traded down $4.62 during trading on Thursday, hitting $150.72. The company's stock had a trading volume of 566,287 shares, compared to its average volume of 938,051. 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 twelve month low of $89.96 and a twelve month high of $166.95. The business's fifty day simple moving average is $128.51 and its 200 day simple moving average is $135.09. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of 134.69 and a beta of 1.71.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.34 by $0.17. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period last year, the company earned ($0.13) earnings per share. MasTec's quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MTZ. JPMorgan Chase & Co. raised their price objective on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. Guggenheim reissued a "buy" rating and issued a $195.00 price objective on shares of MasTec in a research report on Monday, May 5th. Truist Financial raised their price objective on MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Stifel Nicolaus lifted their price target on MasTec from $143.00 to $171.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Piper Sandler lifted their price target on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MasTec currently has a consensus rating of "Moderate Buy" and an average price target of $162.06.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the sale, the director now directly owns 39,782 shares of the company's stock, valued at $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $131.63, for a total value 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 disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

MasTec Company Profile

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.