JAT Capital Mgmt LP Acquires Shares of 173,814 MasTec, Inc. (NYSE:MTZ)

JAT Capital Mgmt LP purchased a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 173,814 shares of the construction company's stock, valued at approximately $23,663,000. MasTec accounts for about 3.7% of JAT Capital Mgmt LP's portfolio, making the stock its 6th largest holding. JAT Capital Mgmt LP owned 0.22% of MasTec as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameliora Wealth Management Ltd. purchased a new position in MasTec during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC raised its position in shares of MasTec by 181.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after buying an additional 116 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in MasTec in the third quarter valued at approximately $25,000. Smartleaf Asset Management LLC grew its position in MasTec by 93.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock worth $36,000 after acquiring an additional 128 shares during the period. Finally, Global Retirement Partners LLC increased its stake in MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock worth $42,000 after acquiring an additional 190 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company's stock.

Insider Buying and Selling at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the transaction, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.30% of the stock is owned by insiders.

MasTec Stock Up 2.2 %

MTZ stock traded up $3.11 during mid-day trading on Monday, reaching $143.98. The company had a trading volume of 394,656 shares, compared to its average volume of 934,452. The firm has a fifty day simple moving average of $120.52 and a 200 day simple moving average of $132.68. 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 company has a market capitalization of $11.38 billion, a price-to-earnings ratio of 128.57 and a beta of 1.71. MasTec, Inc. has a fifty-two week low of $89.96 and a fifty-two week high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last issued 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. 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 analysts' expectations of $2.71 billion. During the same quarter last year, the company earned ($0.13) earnings per share. The firm's revenue was up 6.0% compared to the same quarter last year. Analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MTZ has been the topic of several recent analyst reports. Citigroup decreased their price target on MasTec from $167.00 to $152.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Stifel Nicolaus decreased their target price on shares of MasTec from $175.00 to $143.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. lifted their price target on shares of MasTec from $154.00 to $172.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. KeyCorp upped their price objective on shares of MasTec from $140.00 to $163.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Truist Financial lifted their target price on shares of MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $154.53.

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.