iSAM Funds UK Ltd Makes New Investment in MasTec, Inc. (NYSE:MTZ)

iSAM Funds UK Ltd purchased a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,770 shares of the construction company's stock, valued at approximately $649,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP increased its position in MasTec by 15.1% during the fourth quarter. Allworth Financial LP now owns 596 shares of the construction company's stock worth $81,000 after buying an additional 78 shares during the last quarter. Arizona State Retirement System raised its stake in MasTec by 0.5% in the 4th quarter. Arizona State Retirement System now owns 18,393 shares of the construction company's stock valued at $2,504,000 after acquiring an additional 89 shares during the period. Fielder Capital Group LLC increased its holdings in shares of MasTec by 6.1% in the fourth quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company's stock valued at $247,000 after purchasing an additional 105 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of MasTec by 0.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company's stock valued at $1,883,000 after purchasing an additional 105 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of MasTec by 29.8% in the fourth quarter. UMB Bank n.a. now owns 492 shares of the construction company's stock valued at $67,000 after purchasing an additional 113 shares during the period. Institutional investors own 78.10% of the company's stock.

Insider Activity at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the director now directly owns 39,782 shares in the company, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernst N. Csiszar sold 2,517 shares of the business'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 sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This trade 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 currently owned by company insiders.

MasTec Stock Performance

MasTec stock opened at $157.31 on Tuesday. 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 stock has a market cap of $12.41 billion, a PE ratio of 140.46 and a beta of 1.71. MasTec, Inc. has a 12-month low of $89.96 and a 12-month high of $166.95. The business's 50-day moving average price is $126.98 and its two-hundred day moving average price is $134.79.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MTZ. 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. Citigroup lifted their price target on MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. boosted their target price 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. Barclays boosted their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Finally, Truist Financial raised their target price on shares of MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $162.06.

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.

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