22,300 Shares in MasTec, Inc. (NYSE:MTZ) Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new position in MasTec, Inc. (NYSE:MTZ - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 22,300 shares of the construction company's stock, valued at approximately $3,036,000.

Several other large investors have also bought and sold shares of the company. Allworth Financial LP raised its holdings in MasTec by 15.1% in 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 holdings in MasTec by 0.5% in the fourth quarter. Arizona State Retirement System now owns 18,393 shares of the construction company's stock worth $2,504,000 after buying an additional 89 shares during the last quarter. Fielder Capital Group LLC raised its holdings in MasTec by 6.1% in the fourth quarter. Fielder Capital Group LLC now owns 1,816 shares of the construction company's stock worth $247,000 after buying an additional 105 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in MasTec by 0.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 13,835 shares of the construction company's stock worth $1,883,000 after buying an additional 105 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in MasTec by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,396 shares of the construction company's stock worth $326,000 after buying an additional 116 shares during the last quarter. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Price Performance

Shares of MTZ traded down $0.09 during mid-day trading on Friday, reaching $155.98. The stock had a trading volume of 894,864 shares, compared to its average volume of 943,873. The firm has a market cap of $12.31 billion, a price-to-earnings ratio of 139.27 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 has a fifty day moving average of $132.43 and a 200 day moving average of $135.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

MasTec (NYSE:MTZ - Get Free Report) last posted 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. The business had revenue of $2.85 billion during 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 company's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.13) earnings per share. Equities analysts predict that MasTec, Inc. will post 3.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MTZ shares. Piper Sandler boosted their price objective on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Truist Financial boosted their price objective on shares of MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a report on Monday, May 5th. Guggenheim reaffirmed a "buy" rating and set a $195.00 target price on shares of MasTec in a report on Monday, May 5th. Jefferies Financial Group began coverage on shares of MasTec in a report on Friday, May 16th. They set a "buy" rating and a $188.00 target price for the company. Finally, Stifel Nicolaus upped their target price on shares of MasTec from $171.00 to $181.00 and gave the company a "buy" rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $162.69.

Insider Activity at MasTec

In other MasTec 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 completion of the transaction, the director now owns 23,000 shares in the company, valued at $3,027,490. This trade represents a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director C Robert Campbell sold 3,000 shares of the firm'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 sale, the director now owns 39,782 shares of the company's stock, valued at $6,122,051.98. This trade represents a 7.01% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate 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.