Occudo Quantitative Strategies LP Purchases New Position in MasTec, Inc. (NYSE:MTZ)

Occudo Quantitative Strategies LP bought a new stake in MasTec, Inc. (NYSE:MTZ - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,158 shares of the construction company's stock, valued at approximately $1,247,000.

Other hedge funds also recently added to or reduced their stakes in the company. Ameliora Wealth Management Ltd. bought a new stake in MasTec in the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC increased its stake in MasTec by 181.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 180 shares of the construction company's stock worth $25,000 after purchasing an additional 116 shares in the last quarter. Colonial Trust Co SC increased its stake in MasTec by 335.7% in the 4th quarter. Colonial Trust Co SC now owns 183 shares of the construction company's stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in MasTec by 93.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 265 shares of the construction company's stock worth $36,000 after purchasing an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in MasTec by 162.4% in the 4th quarter. Global Retirement Partners LLC now owns 307 shares of the construction company's stock worth $42,000 after purchasing an additional 190 shares in the last quarter. 78.10% of the stock is currently owned by institutional investors.

MasTec Price Performance

Shares of NYSE:MTZ traded down $0.81 during trading on Monday, reaching $156.96. 272,947 shares of the company traded hands, compared to its average volume of 936,036. The company's 50 day moving average is $126.20 and its two-hundred day moving average is $134.59. The firm has a market capitalization of $12.38 billion, a PE ratio of 140.21 and a beta of 1.71. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. MasTec, Inc. has a 52 week low of $89.96 and a 52 week 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 the consensus estimate of $0.34 by $0.17. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the company earned ($0.13) EPS. MasTec's revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current year.

Analyst Ratings Changes

MTZ has been the topic of several research analyst reports. Barclays lifted their target price on MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Piper Sandler upped their target price on MasTec from $134.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Truist Financial upped their price target on MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a report on Monday, May 5th. B. Riley reiterated a "buy" rating and set a $165.00 price target (up from $151.00) on shares of MasTec in a report on Wednesday, March 19th. Finally, Wolfe Research began coverage on MasTec in a report on Monday, March 31st. They set a "peer perform" rating for the company. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, MasTec presently has an average rating of "Moderate Buy" and an average price target of $162.06.

Insider Buying and Selling

In related news, Director Ernst N. Csiszar sold 2,517 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the director now owns 39,782 shares in the company, 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 insiders.

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.