Man Group plc Acquires 6,968 Shares of MasTec, Inc. (NYSE:MTZ)

Man Group plc lifted its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,414 shares of the construction company's stock after acquiring an additional 6,968 shares during the quarter. Man Group plc owned approximately 0.07% of MasTec worth $7,408,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MTZ. Arrowstreet Capital Limited Partnership bought a new stake in shares of MasTec during the fourth quarter worth $59,910,000. First Trust Advisors LP raised its position in shares of MasTec by 173.8% during the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock worth $80,021,000 after acquiring an additional 373,145 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of MasTec by 137.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock worth $85,451,000 after acquiring an additional 363,502 shares during the last quarter. Merewether Investment Management LP bought a new stake in shares of MasTec during the fourth quarter worth $46,612,000. Finally, Freestone Grove Partners LP bought a new stake in shares of MasTec during the fourth quarter worth $31,730,000. Institutional investors own 78.10% of the company's stock.

MasTec Stock Down 0.3%

NYSE:MTZ opened at $157.31 on Tuesday. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $166.95. 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 stock has a market cap of $12.41 billion, a price-to-earnings ratio of 140.46 and a beta of 1.71. The stock has a 50-day moving average price of $126.98 and a two-hundred day moving average price of $134.79.

MasTec (NYSE:MTZ - Get Free Report) last posted its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $2.71 billion. During the same period in the previous year, the firm earned ($0.13) earnings per share. The company's revenue was up 6.0% on a year-over-year basis. As a group, equities analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analyst Weigh In

MTZ has been the subject of a number of recent research reports. Guggenheim restated a "buy" rating and set a $195.00 target price on shares of MasTec in a research report on Monday, May 5th. Citigroup upped their price objective on MasTec from $152.00 to $170.00 and gave the company a "buy" rating in a report on Monday, May 5th. Barclays upped their price objective on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Wolfe Research began coverage on MasTec in a report on Monday, March 31st. They issued a "peer perform" rating for the company. Finally, Jefferies Financial Group began coverage on MasTec in a report on Friday. They issued a "buy" rating and a $188.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $162.06.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the director now directly owns 39,782 shares of the company's stock, valued at $6,122,051.98. This represents a 7.01% decrease in their ownership of the stock. 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 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 transaction, the director now directly 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 disclosure for this sale can be found here. 21.30% of the stock is owned by insiders.

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.

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