Wedge Capital Management L L P NC Increases Stock Position in MasTec, Inc. (NYSE:MTZ)

Wedge Capital Management L L P NC lifted its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 18.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,077 shares of the construction company's stock after purchasing an additional 6,315 shares during the period. Wedge Capital Management L L P NC owned about 0.05% of MasTec worth $4,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hood River Capital Management LLC lifted its holdings 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 buying an additional 51,531 shares during the last quarter. AQR Capital Management LLC lifted its stake in MasTec by 13.3% during the fourth 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 last quarter. Balyasny Asset Management L.P. boosted its holdings in MasTec by 137.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock valued at $85,451,000 after purchasing an additional 363,502 shares in the last quarter. First Trust Advisors LP boosted its holdings in MasTec by 173.8% in the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after purchasing an additional 373,145 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in MasTec by 25.9% in the fourth quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock valued at $75,787,000 after purchasing an additional 114,502 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MTZ shares. KeyCorp upped their target price on shares of MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Piper Sandler boosted their price target on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. B. Riley reaffirmed a "buy" rating and set a $165.00 price objective (up previously from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Guggenheim reiterated a "buy" rating and set a $195.00 target price on shares of MasTec in a research report on Monday, May 5th. Finally, Jefferies Financial Group initiated coverage on shares of MasTec in a research report on Friday, May 16th. They set a "buy" rating and a $188.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, MasTec currently has an average rating of "Buy" and a consensus price target of $166.75.

MasTec Stock Performance

NYSE MTZ traded up $0.36 during trading hours on Thursday, hitting $163.26. 652,815 shares of the stock were exchanged, compared to its average volume of 941,169. 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 company has a market cap of $12.88 billion, a price-to-earnings ratio of 145.77 and a beta of 1.75. MasTec, Inc. has a 12-month low of $89.96 and a 12-month high of $166.95. The stock has a 50-day moving average of $139.40 and a 200 day moving average of $136.89.

MasTec (NYSE:MTZ - Get Free Report) last issued its 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 return on equity of 8.27% and a net margin of 0.73%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the business posted ($0.13) EPS. The company's revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the director now owns 39,782 shares of the company's stock, valued at $6,122,051.98. The trade was a 7.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the transaction, the director now directly owns 23,000 shares of the company's stock, valued at $3,027,490. The trade was a 9.86% 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.

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.