Paradoxiom Capital L.P. Takes Position in MasTec, Inc. (NYSE:MTZ)

Paradoxiom Capital L.P. acquired a new position in shares of MasTec, Inc. (NYSE:MTZ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 66,773 shares of the construction company's stock, valued at approximately $9,090,000. MasTec accounts for 3.8% of Paradoxiom Capital L.P.'s holdings, making the stock its 13th largest holding. Paradoxiom Capital L.P. owned approximately 0.08% of MasTec at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC grew its stake in shares of MasTec by 642.7% in the third quarter. Barclays PLC now owns 242,066 shares of the construction company's stock worth $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 4th quarter valued at about $240,000. Bouvel Investment Partners LLC grew its position in shares of MasTec by 1.2% during the 4th quarter. Bouvel Investment Partners LLC now owns 20,019 shares of the construction company's stock valued at $2,725,000 after acquiring an additional 234 shares during the period. Merit Financial Group LLC bought a new position in shares of MasTec during the 4th quarter valued at approximately $415,000. Finally, KRS Capital Management LLC bought a new position in shares of MasTec during the 4th quarter valued at approximately $443,000. 78.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MTZ has been the subject of several analyst reports. Robert W. Baird cut their price target on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Guggenheim reissued a "buy" rating and issued a $195.00 price target on shares of MasTec in a report on Monday, May 5th. Truist Financial boosted their price objective on shares of MasTec from $154.00 to $184.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. upped their target price on shares of MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. Finally, Piper Sandler upped their target price on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $162.06.

Insider Activity at MasTec

In other 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 value of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director C Robert Campbell sold 3,000 shares of MasTec 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 in the company, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by company insiders.

MasTec Price Performance

Shares of NYSE:MTZ traded up $2.19 on Friday, reaching $157.80. The company's stock had a trading volume of 813,948 shares, compared to its average volume of 936,817. MasTec, Inc. has a 52-week low of $89.96 and a 52-week high of $166.95. The company has a market cap of $12.45 billion, a P/E ratio of 140.89 and a beta of 1.71. The company has a 50-day simple moving average of $126.20 and a 200 day simple moving average of $134.41. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 EPS 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 firm had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. During the same period in the previous year, the company earned ($0.13) EPS. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate 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.