Northern Trust Corp Raises Stake in MasTec, Inc. (NYSE:MTZ)

Northern Trust Corp grew its holdings in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 12.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 521,142 shares of the construction company's stock after acquiring an additional 59,130 shares during the quarter. Northern Trust Corp owned 0.66% of MasTec worth $70,948,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Hood River Capital Management LLC raised its position in MasTec by 3.5% in the 4th quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock worth $208,444,000 after purchasing an additional 51,531 shares during the period. First Trust Advisors LP increased its holdings 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 buying an additional 373,145 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of MasTec by 25.9% in the 4th quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock valued at $75,787,000 after acquiring an additional 114,502 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in MasTec during the 4th quarter valued at about $59,910,000. Finally, Prudential Financial Inc. grew its position in MasTec by 52.4% during 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 during the last quarter. 78.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MasTec

In other news, Director Ernst N. Csiszar sold 2,517 shares of the stock in a transaction 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 directly owns 23,000 shares of the company's stock, valued at approximately $3,027,490. This represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 21.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus increased their price objective on MasTec from $143.00 to $171.00 and gave the company a "buy" rating in a research note on Monday. Piper Sandler raised their price target on shares of MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday. KeyCorp boosted their price objective on shares of MasTec from $140.00 to $163.00 and gave the company an "overweight" rating in a research report on Monday. Wolfe Research started coverage on shares of MasTec in a report on Monday, March 31st. They set a "peer perform" rating for the company. Finally, Citigroup boosted their price target on MasTec from $152.00 to $170.00 and gave the company a "buy" rating in a report on Monday. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MasTec currently has an average rating of "Moderate Buy" and a consensus target price of $160.33.

MasTec Stock Performance

Shares of MTZ stock opened at $143.58 on Tuesday. The company's fifty day moving average price is $120.74 and its 200-day moving average price is $132.79. The stock has a market cap of $11.35 billion, a PE ratio of 128.20 and a beta of 1.71. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 12 month low of $89.96 and a 12 month high of $166.95.

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

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