Goodlander Investment Management LLC Takes $23.14 Million Position in MasTec, Inc. (NYSE:MTZ)

Goodlander Investment Management LLC purchased a new position in MasTec, Inc. (NYSE:MTZ - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 170,000 shares of the construction company's stock, valued at approximately $23,144,000. MasTec makes up 17.4% of Goodlander Investment Management LLC's investment portfolio, making the stock its largest holding. Goodlander Investment Management LLC owned approximately 0.21% of MasTec at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ameliora Wealth Management Ltd. purchased a new position in shares of MasTec in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC increased its holdings in MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after buying an additional 116 shares in the last quarter. Colonial Trust Co SC increased its holdings in MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after buying an additional 141 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in MasTec in the 3rd quarter worth about $25,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of MasTec by 93.4% during the 4th 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. 78.10% of the stock is owned by hedge funds and other institutional investors.

MasTec Trading Up 0.5 %

MTZ stock opened at $148.41 on Friday. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 132.51 and a beta of 1.71. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. MasTec, Inc. has a 1-year low of $89.96 and a 1-year high of $166.95. The business has a 50 day simple moving average of $122.29 and a two-hundred day simple moving average of $133.25.

MasTec (NYSE:MTZ - Get Free Report) last posted its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.17. The company had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. MasTec had a net margin of 0.73% and a return on equity of 8.27%. MasTec's quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted ($0.13) earnings per share. Research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MTZ has been the subject of several research reports. Guggenheim reissued a "buy" rating and set a $195.00 price objective on shares of MasTec in a report on Monday, May 5th. Stifel Nicolaus boosted their target price on shares of MasTec from $143.00 to $171.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Piper Sandler raised 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. Robert W. Baird reduced their price objective on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Finally, KeyCorp raised their target price on MasTec from $140.00 to $163.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, MasTec has an average rating of "Moderate Buy" and a consensus price target of $160.33.

Insider Transactions at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was 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 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 21.30% of the company's stock.

MasTec Company 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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