Two Sigma Investments LP Decreases Stake in MasTec, Inc. (NYSE:MTZ)

Two Sigma Investments LP decreased its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 62.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,074 shares of the construction company's stock after selling 45,768 shares during the period. Two Sigma Investments LP's holdings in MasTec were worth $3,686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MTZ. Ameliora Wealth Management Ltd. purchased a new stake in MasTec during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its position in MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after acquiring an additional 116 shares during the last quarter. Colonial Trust Co SC lifted its position in MasTec by 335.7% during the fourth quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock valued at $25,000 after acquiring an additional 141 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in MasTec by 93.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock valued at $36,000 after acquiring an additional 128 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in MasTec by 162.4% during the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock valued at $42,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Stock Performance

Shares of NYSE:MTZ traded up $0.57 during midday trading on Monday, reaching $156.50. The company's stock had a trading volume of 830,294 shares, compared to its average volume of 943,413. The firm has a market capitalization of $12.35 billion, a PE ratio of 139.73 and a beta of 1.71. MasTec, Inc. has a twelve month low of $89.96 and a twelve month high of $166.95. The stock has a fifty day moving average of $133.10 and a 200 day moving average of $135.87. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

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, topping analysts' consensus estimates of $0.34 by $0.17. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the firm posted ($0.13) earnings per share. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts expect that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MTZ. Wolfe Research began coverage on shares of MasTec in a research note on Monday, March 31st. They set a "peer perform" rating on the stock. KeyCorp upped their price target on shares of MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Truist Financial upped their price target on shares of MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Jefferies Financial Group began coverage on shares of MasTec in a research note on Friday, May 16th. They set a "buy" rating and a $188.00 price target on the stock. Finally, Piper Sandler upped their price target on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $162.69.

Insider Buying and Selling

In related news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the sale, the director now directly owns 23,000 shares of the company's stock, valued at approximately $3,027,490. This represents a 9.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the director now directly owns 39,782 shares in the company, valued at approximately $6,122,051.98. The trade was a 7.01% 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 insiders.

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.