Massar Capital Management LP Makes New Investment in MasTec, Inc. (NYSE:MTZ)

Massar Capital Management LP bought a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,542 shares of the construction company's stock, valued at approximately $3,069,000. MasTec accounts for 3.5% of Massar Capital Management LP's portfolio, making the stock its 8th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new position in MasTec during the 4th quarter valued at approximately $59,910,000. First Trust Advisors LP raised its position in MasTec by 173.8% during the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after purchasing an additional 373,145 shares during the last quarter. Barclays PLC raised its position in MasTec by 642.7% during the 3rd quarter. Barclays PLC now owns 242,066 shares of the construction company's stock valued at $29,797,000 after purchasing an additional 209,472 shares during the last quarter. Prudential Financial Inc. raised its position in shares of MasTec by 52.4% in the 4th quarter. Prudential Financial Inc. now owns 405,187 shares of the construction company's stock worth $55,162,000 after acquiring an additional 139,235 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of MasTec in the 4th quarter worth approximately $17,776,000. 78.10% of the stock is currently owned by hedge funds and other institutional investors.

MasTec Stock Performance

Shares of NYSE:MTZ traded up $2.26 during trading on Friday, hitting $125.09. The company's stock had a trading volume of 504,775 shares, compared to its average volume of 939,268. The company has a 50-day moving average of $120.35 and a 200-day moving average of $132.52. MasTec, Inc. has a 12 month low of $86.12 and a 12 month high of $166.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.20. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 111.69 and a beta of 1.62.

MasTec (NYSE:MTZ - Get Free Report) last released its earnings results on Thursday, February 27th. The construction company reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The company had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.32 billion. On average, sell-side analysts expect that MasTec, Inc. will post 3.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MTZ has been the subject of several research reports. 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. 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. Wolfe Research started coverage on MasTec in a research report on Monday, March 31st. They set a "peer perform" rating for the company. Truist Financial reduced their price objective on MasTec from $197.00 to $154.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Piper Sandler started coverage on MasTec in a research report on Tuesday, April 8th. They set an "overweight" rating and a $134.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $151.00.

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction on Monday, March 24th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.