SIR Capital Management L.P. Acquires 17,500 Shares of MasTec, Inc. (NYSE:MTZ)

SIR Capital Management L.P. lifted its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 29.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,723 shares of the construction company's stock after buying an additional 17,500 shares during the period. SIR Capital Management L.P. owned about 0.10% of MasTec worth $10,581,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Hood River Capital Management LLC increased its holdings in shares of MasTec by 3.5% during the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock worth $208,444,000 after buying an additional 51,531 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of MasTec by 13.3% in the fourth quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock worth $106,117,000 after purchasing an additional 91,564 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of MasTec by 137.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock worth $85,451,000 after purchasing an additional 363,502 shares during the last quarter. First Trust Advisors LP grew its stake in shares of MasTec by 173.8% in the fourth quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock worth $80,021,000 after purchasing an additional 373,145 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of MasTec by 25.9% in the fourth quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock worth $75,787,000 after purchasing an additional 114,502 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MTZ has been the topic of several analyst reports. Stifel Nicolaus boosted their price objective on shares of MasTec from $143.00 to $171.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Citigroup boosted their price objective on shares of MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. KeyCorp upped their price target on shares of MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Piper Sandler upped their price target on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, Barclays upped their price target 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. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, MasTec has a consensus rating of "Moderate Buy" and a consensus target price of $162.06.

Insider Transactions at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the completion of the transaction, the director now directly owns 39,782 shares of the company's stock, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by company insiders.

MasTec Stock Down 0.3%

NYSE:MTZ traded down $0.46 on Monday, hitting $157.31. The stock had a trading volume of 723,133 shares, compared to its average volume of 937,708. 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 market cap of $12.41 billion, a P/E ratio of 140.46 and a beta of 1.71. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $166.95. The firm's fifty day simple moving average is $126.98 and its two-hundred day simple moving average is $134.79.

MasTec (NYSE:MTZ - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The construction company reported $0.51 EPS 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 during the quarter, compared to analyst estimates of $2.71 billion. During the same quarter last year, the business posted ($0.13) EPS. The company's revenue for the quarter was up 6.0% on a year-over-year basis. Analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

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.