Graham Capital Management L.P. Purchases 11,956 Shares of MasTec, Inc. (NYSE:MTZ)

Graham Capital Management L.P. lifted its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 78.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,147 shares of the construction company's stock after acquiring an additional 11,956 shares during the quarter. Graham Capital Management L.P.'s holdings in MasTec were worth $3,696,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of MasTec during the 3rd quarter worth approximately $25,000. Ameliora Wealth Management Ltd. bought a new position in MasTec in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its holdings in MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after acquiring an additional 116 shares during the period. Colonial Trust Co SC raised its position in shares of MasTec by 335.7% during the 4th 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. Finally, Smartleaf Asset Management LLC lifted its stake in shares of MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock valued at $36,000 after purchasing an additional 128 shares during the period. 78.10% of the stock is currently owned by institutional investors.

Insider Activity

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of MasTec stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the sale, the director now owns 23,000 shares of the company's stock, valued at $3,027,490. The trade was a 9.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 21.30% of the company's stock.

MasTec Stock Up 0.5 %

Shares of NYSE:MTZ opened at $148.41 on Friday. MasTec, Inc. has a 52-week low of $89.96 and a 52-week high of $166.95. The firm has a market capitalization of $11.71 billion, a P/E ratio of 132.51 and a beta of 1.71. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The stock has a 50 day moving average price of $122.29 and a 200-day moving average price of $133.33.

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 the consensus estimate 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 quarter in the prior year, the firm posted ($0.13) earnings per share. The business's revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of MasTec from $143.00 to $171.00 and gave the company a "buy" rating in a report on Monday, May 5th. Truist Financial upped their price objective on shares of MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Piper Sandler lifted their target price on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. JPMorgan Chase & Co. boosted their target price on MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Finally, Guggenheim reaffirmed a "buy" rating and set a $195.00 price target on shares of MasTec in a research report on Monday, May 5th. Three 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's stock. According to data from MarketBeat.com, MasTec has a consensus rating of "Moderate Buy" and a consensus price target of $160.33.

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.

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