Assenagon Asset Management S.A. Has $28.62 Million Holdings in MasTec, Inc. (NYSE:MTZ)

Assenagon Asset Management S.A. grew its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 31.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245,231 shares of the construction company's stock after buying an additional 59,056 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.31% of MasTec worth $28,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Hood River Capital Management LLC raised its holdings 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 buying an additional 51,531 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of MasTec by 13.3% in the fourth quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock valued at $106,117,000 after buying an additional 91,564 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of MasTec by 137.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock valued at $85,451,000 after buying an additional 363,502 shares during 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 valued at $80,021,000 after buying an additional 373,145 shares during the last quarter. Finally, 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 valued at $75,787,000 after buying an additional 114,502 shares during the last quarter. 78.10% of the stock is owned by institutional investors.

MasTec Stock Down 0.8%

NYSE MTZ traded down $1.35 during trading hours on Friday, reaching $161.95. 413,103 shares of the company's stock were exchanged, compared to its average volume of 944,865. The company's 50-day moving average is $141.64 and its two-hundred day moving average is $137.07. MasTec, Inc. has a one year low of $89.96 and a one year high of $166.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 144.60 and a beta of 1.75.

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 analysts' consensus estimates of $0.34 by $0.17. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the firm posted ($0.13) EPS. The business's revenue was up 6.0% on a year-over-year basis. On average, analysts forecast that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the director now owns 39,782 shares in the company, valued at $6,122,051.98. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ernst N. Csiszar sold 2,517 shares of the 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 transaction, the director now owns 23,000 shares in the company, valued at $3,027,490. The trade was a 9.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 21.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MTZ shares. Truist Financial increased their price objective on MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Guggenheim reissued a "buy" rating and set a $195.00 price objective on shares of MasTec in a report on Monday, May 5th. Wall Street Zen raised MasTec from a "buy" rating to a "strong-buy" rating in a report on Monday, June 9th. Stifel Nicolaus boosted their price objective on MasTec from $171.00 to $181.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Finally, Piper Sandler boosted their price objective on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, MasTec presently has a consensus rating of "Buy" and a consensus target price of $166.75.

MasTec 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.