Point72 Asia Singapore Pte. Ltd. Purchases Shares of 800 MasTec, Inc. (NYSE:MTZ)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of MasTec, Inc. (NYSE:MTZ) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 800 shares of the construction company’s stock, valued at approximately $86,000.

Several other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in MasTec by 7.7% in the fourth quarter. Wells Fargo & Company MN now owns 99,110 shares of the construction company’s stock valued at $7,505,000 after buying an additional 7,050 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of MasTec in the 4th quarter valued at about $503,000. Treasurer of the State of North Carolina raised its holdings in MasTec by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 27,571 shares of the construction company’s stock worth $2,088,000 after purchasing an additional 270 shares during the period. TFO Wealth Partners LLC boosted its position in MasTec by 69,800.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,097 shares of the construction company’s stock worth $159,000 after purchasing an additional 2,094 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in MasTec by 27.2% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,011 shares of the construction company’s stock valued at $379,000 after purchasing an additional 1,071 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MTZ has been the subject of several research analyst reports. Stifel Nicolaus upped their target price on MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. B. Riley increased their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. Citigroup boosted their target price on shares of MasTec from $118.00 to $122.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Truist Financial reaffirmed a “hold” rating and issued a $112.00 price target (up from $109.00) on shares of MasTec in a research note on Monday, August 5th. Finally, DA Davidson increased their target price on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.50.

Insider Activity

In related news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the completion of the transaction, the director now directly owns 48,173 shares in the company, valued at $5,600,592.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Robert E. Apple sold 20,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the sale, the chief operating officer now directly owns 217,202 shares of the company’s stock, valued at approximately $27,426,096.54. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of MasTec stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $116.26, for a total value of $348,780.00. Following the sale, the director now owns 48,173 shares in the company, valued at $5,600,592.98. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

MasTec Trading Up 0.1 %

Shares of MasTec stock opened at $122.80 on Monday. The company has a fifty day simple moving average of $110.53 and a 200-day simple moving average of $103.79. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.86. MasTec, Inc. has a 12-month low of $44.65 and a 12-month high of $127.97. The stock has a market cap of $9.76 billion, a price-to-earnings ratio of -877.14 and a beta of 1.70.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.09. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 earnings per share. On average, equities analysts forecast that MasTec, Inc. will post 2.71 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.