Ardsley Advisory Partners LP Sells 20,250 Shares of MasTec, Inc. (NYSE:MTZ)

Ardsley Advisory Partners LP lessened its position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 37.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,000 shares of the construction company's stock after selling 20,250 shares during the quarter. Ardsley Advisory Partners LP's holdings in MasTec were worth $4,629,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership purchased a new stake in MasTec in the 4th quarter valued at about $59,910,000. First Trust Advisors LP grew its stake in shares of MasTec by 173.8% during the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after acquiring an additional 373,145 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in MasTec in the fourth quarter valued at $31,730,000. Barclays PLC increased its holdings in MasTec by 642.7% in the third quarter. Barclays PLC now owns 242,066 shares of the construction company's stock valued at $29,797,000 after buying an additional 209,472 shares during the last quarter. Finally, JAT Capital Mgmt LP bought a new stake in MasTec during the fourth quarter valued at $23,663,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MTZ shares. Citigroup boosted their price objective on MasTec from $152.00 to $170.00 and gave the company a "buy" rating in a research report on Monday. Piper Sandler boosted their price target on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday. Barclays boosted their target price on MasTec from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. KeyCorp increased their target price on MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a report on Monday. Finally, Guggenheim reissued a "buy" rating and set a $195.00 price objective on shares of MasTec in a research report on Monday. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, MasTec presently has an average rating of "Moderate Buy" and a consensus price target of $160.33.

Insider Buying and Selling at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the company's 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 in the company, valued at $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 21.30% of the company's stock.

MasTec Trading Up 0.9 %

Shares of NYSE MTZ traded up $1.29 during mid-day trading on Tuesday, hitting $144.86. The company's stock had a trading volume of 948,996 shares, compared to its average volume of 935,668. The company's fifty day simple moving average is $121.11 and its 200-day simple moving average is $132.88. The stock has a market cap of $11.45 billion, a price-to-earnings ratio of 129.34 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 one year low of $89.96 and a one year high of $166.95.

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

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.