Brevan Howard Capital Management LP Decreases Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Brevan Howard Capital Management LP reduced its stake in MasTec, Inc. (NYSE:MTZ - Free Report) by 28.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,525 shares of the construction company's stock after selling 6,447 shares during the period. Brevan Howard Capital Management LP's holdings in MasTec were worth $2,250,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Hood River Capital Management LLC increased its position in shares of MasTec by 3.5% in 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 period. AQR Capital Management LLC boosted its stake in shares of MasTec by 13.3% during the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock valued at $106,117,000 after purchasing an additional 91,564 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in MasTec by 137.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock worth $85,451,000 after buying an additional 363,502 shares during the period. First Trust Advisors LP boosted its position in MasTec by 173.8% during 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake 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 valued at $75,787,000 after purchasing an additional 114,502 shares during the period. Hedge funds and other institutional investors own 78.10% of the company's stock.

Insiders Place Their Bets

In other 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 value of $331,312.71. Following the completion of the transaction, the director now owns 23,000 shares of the company's stock, valued at $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 21.30% of the company's stock.

MasTec Stock Performance

Shares of MasTec stock traded up $0.77 during trading hours on Friday, reaching $148.41. 642,368 shares of the stock traded hands, compared to its average volume of 932,356. MasTec, Inc. has a one year low of $89.96 and a one year high of $166.95. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of 132.51 and a beta of 1.71. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average price of $122.29 and a 200 day moving average price of $133.25.

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

Analyst Ratings Changes

Several equities analysts have commented on MTZ shares. Barclays raised their price objective on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. B. Riley restated a "buy" rating and issued a $165.00 price objective (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. JPMorgan Chase & Co. lifted their price objective on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Wolfe Research began coverage on shares of MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. Finally, Citigroup lifted their target price on shares of MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Three 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 company has an average rating of "Moderate Buy" and an average price target of $160.33.

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.