Sagefield Capital LP Has $6.58 Million Stock Position in MasTec, Inc. (NYSE:MTZ)

Sagefield Capital LP increased its stake in shares of MasTec, Inc. (NYSE:MTZ - Free Report) by 64.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,300 shares of the construction company's stock after acquiring an additional 18,841 shares during the quarter. Sagefield Capital LP owned approximately 0.06% of MasTec worth $6,576,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MTZ. Hood River Capital Management LLC increased its holdings in shares of MasTec by 3.5% during the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock valued at $208,444,000 after acquiring an additional 51,531 shares in the last quarter. AQR Capital Management LLC increased its stake in MasTec by 13.3% during the 4th quarter. AQR Capital Management LLC now owns 779,472 shares of the construction company's stock valued at $106,117,000 after purchasing an additional 91,564 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in MasTec by 137.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company's stock valued at $85,451,000 after purchasing an additional 363,502 shares in the last quarter. First Trust Advisors LP raised its holdings in MasTec by 173.8% during 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 last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of MasTec by 25.9% in the fourth quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock valued at $75,787,000 after buying an additional 114,502 shares in the last quarter. 78.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. 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 report on Tuesday, January 28th. Guggenheim reissued a "buy" rating and set a $195.00 price objective on shares of MasTec in a report on Monday, May 5th. Truist Financial raised their target price on MasTec from $154.00 to $184.00 and gave the company a "buy" rating in a report on Monday, May 5th. Stifel Nicolaus boosted their target price on MasTec from $143.00 to $171.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Piper Sandler increased their target price on shares of MasTec from $134.00 to $175.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $162.06.

MasTec Trading Down 3.0%

NYSE MTZ traded down $4.66 during trading hours on Thursday, reaching $150.68. The company had a trading volume of 669,877 shares, compared to its average volume of 938,515. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $11.89 billion, a P/E ratio of 134.48 and a beta of 1.71. The stock has a 50-day moving average of $128.51 and a 200 day moving average of $135.09. MasTec, Inc. has a 1-year low of $89.96 and a 1-year high of $166.95.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share (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 business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the company posted ($0.13) EPS. The business's revenue was up 6.0% on a year-over-year basis. As a group, research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Insider Buying and Selling at MasTec

In related news, Director C Robert Campbell sold 3,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $153.89, for a total value 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 represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ernst N. Csiszar sold 2,517 shares of the firm'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 directly owns 23,000 shares in the company, valued at approximately $3,027,490. This represents a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

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.