MasTec, Inc. (NYSE:MTZ) Stock Position Lifted by Boothbay Fund Management LLC

Boothbay Fund Management LLC boosted its position in MasTec, Inc. (NYSE:MTZ - Free Report) by 208.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,488 shares of the construction company's stock after purchasing an additional 27,363 shares during the quarter. Boothbay Fund Management LLC owned approximately 0.05% of MasTec worth $5,512,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MTZ. Hood River Capital Management LLC boosted its stake in MasTec by 3.5% in 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 purchasing an additional 51,531 shares in the last quarter. First Trust Advisors LP raised its holdings 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 buying an additional 373,145 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of MasTec by 25.9% in 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 buying an additional 114,502 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of MasTec in the fourth quarter worth $59,910,000. Finally, Prudential Financial Inc. raised its holdings 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 during the last quarter. 78.10% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the sale, the director now owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MTZ has been the subject of a number of recent analyst reports. Wolfe Research assumed coverage on shares of MasTec in a report on Monday, March 31st. They issued a "peer perform" rating for the company. B. Riley reiterated a "buy" rating and issued a $165.00 target price (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Robert W. Baird reduced their target price on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. boosted their price target on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Finally, KeyCorp cut their target price on MasTec from $168.00 to $140.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $151.00.

MasTec Price Performance

Shares of NYSE MTZ traded down $0.18 during midday trading on Wednesday, reaching $127.24. The company's stock had a trading volume of 924,008 shares, compared to its average volume of 938,963. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average price of $120.09 and a 200 day moving average price of $132.44. MasTec, Inc. has a one year low of $86.12 and a one year high of $166.95. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 113.61 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, topping analysts' consensus estimates of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.32 billion. On average, equities research analysts expect that MasTec, Inc. will post 3.44 EPS for the current year.

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.