MasTec, Inc. (NYSE:MTZ) Shares Sold by Entropy Technologies LP

Key Points

• Entropy Technologies LP reduced its holdings in MasTec by 58.1% during the first quarter, owning 4,000 shares valued at $467,000 after selling 5,553 shares.
• Institutional investors now hold 78.10% of MasTec's stock, with multiple firms increasing their stakes significantly, including Balyasny Asset Management with a 137.6% increase.
• Analysts have a consensus rating of "Buy" for MasTec, with price targets set between $175.00 and $220.00, indicating strong growth potential for the company.

Entropy Technologies LP decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 58.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,000 shares of the construction company's stock after selling 5,553 shares during the period. Entropy Technologies LP's holdings in MasTec were worth $467,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hood River Capital Management LLC increased its position in MasTec by 3.5% during 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 during the period. AQR Capital Management LLC increased its position in MasTec by 13.3% during the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock worth $106,117,000 after purchasing an additional 91,564 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of MasTec by 137.6% during the 4th 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 in the last quarter. First Trust Advisors LP boosted its stake in shares of MasTec by 173.8% during the 4th 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of MasTec by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company's stock worth $65,440,000 after acquiring an additional 4,024 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Wall Street Analysts Forecast Growth

MTZ has been the topic of several research analyst reports. Piper Sandler boosted their price target on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Guggenheim reissued a "buy" rating and set a $195.00 price target on shares of MasTec in a research note on Monday, May 5th. Citigroup decreased their price target on MasTec from $220.00 to $219.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Robert W. Baird raised MasTec from a "neutral" rating to an "outperform" rating and set a $210.00 price target on the stock in a research note on Monday, August 4th. Finally, Baird R W raised MasTec from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $195.12.

MasTec Trading Down 1.5%

Shares of MasTec stock opened at $181.58 on Thursday. MasTec, Inc. has a fifty-two week low of $96.01 and a fifty-two week high of $194.00. The firm has a market cap of $14.33 billion, a PE ratio of 53.72 and a beta of 1.83. The business's fifty day moving average is $172.99 and its two-hundred day moving average is $146.41. The company has a quick ratio of 1.19, a current ratio of 1.22 and a debt-to-equity ratio of 0.70.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.08. MasTec had a return on equity of 12.71% and a net margin of 2.04%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the prior year, the company posted $0.96 EPS. The business's revenue for the quarter was up 19.7% compared to the same quarter last year. Analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chief operating officer directly owned 194,249 shares in the company, valued at $33,993,575. This represents a 4.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Cardenas Alberto De sold 10,000 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $180.69, for a total value of $1,806,900.00. Following the sale, the executive vice president owned 101,349 shares of the company's stock, valued at approximately $18,312,750.81. The trade was a 8.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company's stock.

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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