XTX Topco Ltd Has $2.27 Million Position in MasTec, Inc. (NYSE:MTZ)

Key Points

• XTX Topco Ltd increased its stake in MasTec, Inc. by 701.5% in the first quarter, owning a total of 19,429 shares valued at approximately $2.27 million.
• MasTec reported earnings of $0.51 per share for the recent quarter, exceeding estimates and reflecting a 6% increase in revenue year-over-year.
• Multiple analysts have upgraded their price targets for MasTec, with Barclays setting a target at $200, indicating strong market confidence in the company's performance.

XTX Topco Ltd raised its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 701.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,429 shares of the construction company's stock after acquiring an additional 17,005 shares during the period. XTX Topco Ltd's holdings in MasTec were worth $2,268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MTZ. Hood River Capital Management LLC raised its position in MasTec by 3.5% in the 4th quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock valued at $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% in the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock valued at $106,117,000 after acquiring an additional 91,564 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in MasTec by 137.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock valued at $85,451,000 after acquiring an additional 363,502 shares in the last quarter. First Trust Advisors LP lifted its stake in MasTec by 173.8% in the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after acquiring an additional 373,145 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in MasTec by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 560,710 shares of the construction company's stock valued at $65,440,000 after acquiring an additional 4,024 shares in the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on MTZ. The Goldman Sachs Group upgraded MasTec from a "neutral" rating to a "buy" rating and boosted their target price for the company from $156.00 to $195.00 in a research note on Friday, June 6th. Guggenheim restated a "buy" rating and issued a $195.00 target price on shares of MasTec in a research note on Monday, May 5th. Citigroup boosted their target price on MasTec from $192.00 to $220.00 and gave the company a "buy" rating in a research note on Monday. Jefferies Financial Group started coverage on MasTec in a research note on Friday, May 16th. They issued a "buy" rating and a $188.00 target price on the stock. Finally, Roth Capital started coverage on MasTec in a report on Tuesday, July 1st. They set a "buy" rating and a $210.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, MasTec currently has a consensus rating of "Buy" and an average target price of $179.88.

Insider Activity at MasTec

In other news, COO Robert E. Apple sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $175.00, for a total value of $1,750,000.00. Following the transaction, the chief operating officer owned 194,249 shares of the company's stock, valued at approximately $33,993,575. This represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the director directly owned 39,782 shares in the company, valued at $6,122,051.98. The trade was 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.

MasTec Stock Performance

NYSE:MTZ traded down $15.17 on Friday, hitting $174.04. The company's stock had a trading volume of 3,637,842 shares, compared to its average volume of 823,695. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average of $169.01 and a two-hundred day moving average of $145.11. The firm has a market capitalization of $13.73 billion, a P/E ratio of 51.49 and a beta of 1.83. MasTec, Inc. has a one year low of $89.96 and a one year high of $194.00.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.08. MasTec had a return on equity of 12.81% and a net margin of 2.04%. The firm 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 earned $0.96 earnings per share. The business's revenue for the quarter was up 19.7% compared to the same quarter last year. Research analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

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.