Balyasny Asset Management L.P. Grows Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Balyasny Asset Management L.P. lifted its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 137.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 627,670 shares of the construction company's stock after purchasing an additional 363,502 shares during the quarter. Balyasny Asset Management L.P. owned about 0.79% of MasTec worth $85,451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New York State Teachers Retirement System boosted its position in shares of MasTec by 21.7% during the 4th quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company's stock valued at $4,398,000 after acquiring an additional 5,750 shares during the last quarter. Kingswood Wealth Advisors LLC raised its position in MasTec by 45.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company's stock worth $3,880,000 after purchasing an additional 8,948 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of MasTec by 286.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company's stock worth $2,433,000 after acquiring an additional 13,241 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of MasTec during the fourth quarter worth $415,000. Finally, CWA Asset Management Group LLC purchased a new stake in MasTec in the 4th quarter valued at about $485,000. 78.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on MTZ shares. KeyCorp increased their price target on shares of MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Citigroup upped their price objective on shares of MasTec from $152.00 to $170.00 and gave the company a "buy" rating in a report on Monday, May 5th. Piper Sandler upped their target price on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. raised their price target on shares of MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Finally, Guggenheim reaffirmed a "buy" rating and set a $195.00 target price on shares of MasTec in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $160.33.

MasTec Trading Up 0.5 %

MTZ traded up $0.77 during trading hours on Friday, reaching $148.41. The company's stock had a trading volume of 642,368 shares, compared to its average volume of 932,774. The business's 50-day moving average is $122.29 and its 200-day moving average is $133.33. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The stock has a market cap of $11.71 billion, a PE ratio of 132.51 and a beta of 1.71. MasTec, Inc. has a fifty-two week low of $89.96 and a fifty-two week high of $166.95.

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

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction 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 sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.