Point72 Asset Management L.P. Lowers Stock Position in MasTec, Inc. (NYSE:MTZ)

Point72 Asset Management L.P. reduced its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 734,211 shares of the construction company's stock after selling 30,178 shares during the period. Point72 Asset Management L.P. owned approximately 0.93% of MasTec worth $99,955,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Barclays PLC grew its stake 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. Ritholtz Wealth Management purchased a new stake in MasTec in the fourth quarter valued at approximately $240,000. Bouvel Investment Partners LLC increased its holdings in MasTec by 1.2% in the 4th quarter. Bouvel Investment Partners LLC now owns 20,019 shares of the construction company's stock worth $2,725,000 after buying an additional 234 shares during the period. Merit Financial Group LLC purchased a new position in MasTec during the 4th quarter worth approximately $415,000. Finally, KRS Capital Management LLC purchased a new position in MasTec during the 4th quarter worth approximately $443,000. 78.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the director now directly owns 39,782 shares of the company's stock, valued at $6,122,051.98. The trade was a 7.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of the firm'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 transaction of $331,312.71. Following the sale, the director now owns 23,000 shares of the company's stock, valued at $3,027,490. This represents a 9.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 21.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MTZ shares. Wolfe Research started coverage on shares of MasTec in a research note on Monday, March 31st. They issued a "peer perform" rating on the stock. B. Riley reiterated a "buy" rating and set a $165.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Guggenheim restated a "buy" rating and issued a $195.00 target price on shares of MasTec in a research note on Monday, May 5th. Robert W. Baird reduced their price target on MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Finally, Barclays boosted their price target on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, MasTec has an average rating of "Moderate Buy" and a consensus price target of $162.06.

MasTec Price Performance

MTZ stock traded up $1.56 during trading on Tuesday, hitting $158.92. The stock had a trading volume of 229,901 shares, compared to its average volume of 1,134,256. MasTec, Inc. has a twelve month low of $89.96 and a twelve month high of $166.95. The company's 50-day moving average price is $126.98 and its two-hundred day moving average price is $134.79. 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 stock has a market capitalization of $12.54 billion, a P/E ratio of 141.89 and a beta of 1.71.

MasTec (NYSE:MTZ - Get Free Report) last issued its quarterly 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. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the company posted ($0.13) earnings per share. The business's revenue was up 6.0% on a year-over-year basis. As a group, research analysts predict that MasTec, Inc. will post 3.44 EPS 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.