Perbak Capital Partners LLP Raises Stock Holdings in MasTec, Inc. (NYSE:MTZ)

Perbak Capital Partners LLP grew its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 100.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,928 shares of the construction company's stock after buying an additional 5,989 shares during the period. MasTec makes up 0.9% of Perbak Capital Partners LLP's portfolio, making the stock its 27th largest holding. Perbak Capital Partners LLP's holdings in MasTec were worth $1,624,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Northern Trust Corp increased its stake in MasTec by 12.8% during the fourth quarter. Northern Trust Corp now owns 521,142 shares of the construction company's stock worth $70,948,000 after acquiring an additional 59,130 shares during the last quarter. Aquatic Capital Management LLC increased its position in shares of MasTec by 66.8% during the 4th quarter. Aquatic Capital Management LLC now owns 7,832 shares of the construction company's stock valued at $1,066,000 after purchasing an additional 3,137 shares during the last quarter. Boothbay Fund Management LLC raised its holdings in MasTec by 208.5% during the 4th quarter. Boothbay Fund Management LLC now owns 40,488 shares of the construction company's stock valued at $5,512,000 after buying an additional 27,363 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in MasTec in the fourth quarter worth $613,000. Finally, Lord Abbett & CO. LLC purchased a new position in MasTec during the fourth quarter worth $23,542,000. 78.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MTZ shares. Truist Financial reduced their target price on shares of MasTec from $197.00 to $154.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Citigroup reduced their price objective on shares of MasTec from $167.00 to $152.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. B. Riley restated a "buy" rating and set a $165.00 target price (up previously from $151.00) on shares of MasTec in a research report on Wednesday, March 19th. JPMorgan Chase & Co. increased their price target on MasTec from $154.00 to $172.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Finally, Guggenheim restated a "buy" rating and set a $195.00 price objective on shares of MasTec in a report on Tuesday, March 25th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $151.00.

MasTec Stock Up 5.3 %

MTZ stock traded up $7.06 during trading on Friday, hitting $141.07. 1,633,328 shares of the company's stock traded hands, compared to its average volume of 936,546. The firm has a market capitalization of $11.15 billion, a P/E ratio of 125.96 and a beta of 1.71. MasTec, Inc. has a 1 year low of $89.96 and a 1 year high of $166.95. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business has a fifty day simple moving average of $120.52 and a two-hundred day simple moving average of $132.64.

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 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 firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period in the previous year, the company posted ($0.13) EPS. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. Sell-side analysts anticipate that MasTec, Inc. will post 3.44 EPS for the current year.

Insider Buying and Selling

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was 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 of the company's stock, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.30% of the stock is currently owned by company 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.