172,926 Shares in MasTec, Inc. (NYSE:MTZ) Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC acquired a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 172,926 shares of the construction company's stock, valued at approximately $23,542,000. Lord Abbett & CO. LLC owned approximately 0.22% of MasTec at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of MasTec in the third quarter worth $25,000. Ameliora Wealth Management Ltd. bought a new position in MasTec in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in shares of MasTec by 181.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock valued at $25,000 after purchasing an additional 116 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of MasTec by 93.4% in the fourth 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 in the last quarter. Finally, Global Retirement Partners LLC grew its position in MasTec by 162.4% during the fourth quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock valued at $42,000 after buying an additional 190 shares during the period. 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 MasTec 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 completion of the transaction, the director now directly owns 23,000 shares of the company's stock, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 21.30% of the company's stock.

MasTec Trading Up 6.9 %

Shares of MTZ stock traded up $9.19 on Friday, reaching $143.20. The company had a trading volume of 673,636 shares, compared to its average volume of 941,638. The stock has a market cap of $11.32 billion, a PE ratio of 127.56 and a beta of 1.62. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average of $120.27 and a 200-day moving average of $132.50. MasTec, Inc. has a 12 month low of $86.95 and a 12 month high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 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 analysts' expectations of $2.71 billion. During the same period in the previous year, the firm posted ($0.13) EPS. The company's revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analysts Set New Price Targets

MTZ has been the subject of several recent analyst reports. KeyCorp cut their price objective on MasTec from $168.00 to $140.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Barclays increased their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Robert W. Baird reduced their price objective on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Citigroup decreased their target price on MasTec from $167.00 to $152.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Stifel Nicolaus lowered their price target on shares of MasTec from $175.00 to $143.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $151.00.

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.