Sycomore Asset Management Purchases Shares of 12,937 MasTec, Inc. (NYSE:MTZ)

Sycomore Asset Management purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 12,937 shares of the construction company's stock, valued at approximately $965,000.

Several other institutional investors have also added to or reduced their stakes in MTZ. Nordea Investment Management AB raised its holdings in MasTec by 35.0% in the 4th quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company's stock worth $297,006,000 after purchasing an additional 1,027,085 shares in the last quarter. CI Investments Inc. increased its stake in shares of MasTec by 44,834.1% in the 3rd quarter. CI Investments Inc. now owns 798,029 shares of the construction company's stock worth $57,434,000 after acquiring an additional 796,253 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of MasTec by 7,110.3% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 359,144 shares of the construction company's stock worth $25,848,000 after acquiring an additional 354,163 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of MasTec by 142.0% in the 3rd quarter. Schroder Investment Management Group now owns 315,272 shares of the construction company's stock worth $22,690,000 after acquiring an additional 185,020 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of MasTec in the 3rd quarter worth about $11,609,000. 78.10% of the stock is currently owned by institutional investors.

MasTec Stock Performance

Shares of NYSE MTZ traded down $1.35 during trading on Wednesday, reaching $85.18. 702,432 shares of the company traded hands, compared to its average volume of 912,866. The firm has a 50 day simple moving average of $84.97 and a 200-day simple moving average of $71.79. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $6.77 billion, a PE ratio of -129.06 and a beta of 1.62. MasTec, Inc. has a 52-week low of $44.65 and a 52-week high of $123.33.

MasTec (NYSE:MTZ - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.20. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. MasTec had a negative net margin of 0.42% and a positive return on equity of 4.82%. Equities research analysts anticipate that MasTec, Inc. will post 2.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of MasTec from $70.00 to $89.00 and gave the stock a "neutral" rating in a research note on Monday, March 4th. TD Cowen increased their price target on shares of MasTec from $85.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, March 4th. UBS Group increased their price target on shares of MasTec from $89.00 to $92.00 and gave the stock a "buy" rating in a research note on Friday, February 2nd. DA Davidson reiterated a "buy" rating and issued a $70.00 price target on shares of MasTec in a research note on Monday, March 4th. Finally, Truist Financial began coverage on shares of MasTec in a research note on Thursday, March 14th. They set a "hold" rating and a $96.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.85.

About MasTec

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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