Sagefield Capital LP Increases Position in MasTec, Inc. (NYSE:MTZ)

Sagefield Capital LP boosted its holdings in MasTec, Inc. (NYSE:MTZ - Free Report) by 64.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,300 shares of the construction company's stock after purchasing an additional 18,841 shares during the quarter. Sagefield Capital LP owned about 0.06% of MasTec worth $6,576,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MTZ. Hood River Capital Management LLC boosted its holdings in MasTec by 3.5% in the fourth quarter. Hood River Capital Management LLC now owns 1,531,104 shares of the construction company's stock worth $208,444,000 after purchasing an additional 51,531 shares during the last quarter. AQR Capital Management LLC raised its position in shares of 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 during the period. Balyasny Asset Management L.P. increased its holdings in MasTec by 137.6% in 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 acquiring an additional 363,502 shares during the last quarter. First Trust Advisors LP increased its holdings in MasTec by 173.8% in the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company's stock valued at $80,021,000 after acquiring an additional 373,145 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in MasTec by 25.9% in the 4th quarter. Bank of New York Mellon Corp now owns 556,686 shares of the construction company's stock valued at $75,787,000 after acquiring an additional 114,502 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company's stock.

MasTec Stock Performance

NYSE:MTZ opened at $157.80 on Friday. MasTec, Inc. has a twelve month low of $89.96 and a twelve month 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's 50-day moving average price is $126.20 and its 200-day moving average price is $134.41. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ - Get Free Report) last released its quarterly earnings data 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 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 last year, the business earned ($0.13) earnings per share. MasTec's revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on MTZ. Robert W. Baird dropped their price target on shares of MasTec from $162.00 to $153.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Citigroup upped their price target on shares of MasTec from $152.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. B. Riley reiterated a "buy" rating and set a $165.00 price objective (up previously from $151.00) on shares of MasTec in a research note on Wednesday, March 19th. Jefferies Financial Group began coverage on shares of MasTec in a research note on Friday. They set a "buy" rating and a $188.00 price target on the stock. Finally, Barclays upped their price objective on shares of MasTec from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $162.06.

Insider Buying and Selling at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the director now owns 39,782 shares of the company's stock, valued at approximately $6,122,051.98. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $131.63, for a total transaction of $331,312.71. Following the completion of the transaction, the director now directly owns 23,000 shares of the company's stock, valued at approximately $3,027,490. The trade was a 9.86% decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.30% of the company's stock.

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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