DekaBank Deutsche Girozentrale Takes $40,000 Position in MasTec, Inc. (NYSE:MTZ)

DekaBank Deutsche Girozentrale acquired a new position in MasTec, Inc. (NYSE:MTZ) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 364 shares of the construction company’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its position in shares of MasTec by 96.4% in the 4th quarter. Point72 Asset Management L.P. now owns 1,022,700 shares of the construction company’s stock worth $77,439,000 after purchasing an additional 502,039 shares during the period. Pinebridge Investments L.P. increased its holdings in shares of MasTec by 25.6% in the 4th quarter. Pinebridge Investments L.P. now owns 105,686 shares of the construction company’s stock valued at $8,004,000 after acquiring an additional 21,564 shares during the period. 1492 Capital Management LLC bought a new position in shares of MasTec in the 4th quarter worth $1,059,000. The Manufacturers Life Insurance Company boosted its position in MasTec by 5.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 343,040 shares of the construction company’s stock valued at $25,975,000 after purchasing an additional 18,402 shares in the last quarter. Finally, FACT Capital LP grew its stake in MasTec by 20.7% in the fourth quarter. FACT Capital LP now owns 101,929 shares of the construction company’s stock valued at $7,718,000 after purchasing an additional 17,511 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MTZ shares. The Goldman Sachs Group raised their price target on shares of MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Truist Financial reaffirmed a “hold” rating and issued a $112.00 price target (up from $109.00) on shares of MasTec in a report on Monday, August 5th. B. Riley upped their price target on MasTec from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. DA Davidson raised their price objective on MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Stifel Nicolaus upped their target price on MasTec from $120.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.50.

Insider Transactions at MasTec

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business’s 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 completion of the transaction, the director now directly owns 48,173 shares of the company’s stock, valued at $5,600,592.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 21.30% of the company’s stock.

MasTec Stock Performance

MTZ opened at $126.14 on Friday. 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 firm has a 50 day moving average of $108.63 and a two-hundred day moving average of $102.49. The firm has a market capitalization of $10.02 billion, a PE ratio of -901.00 and a beta of 1.70.

MasTec (NYSE:MTZ) last issued its 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. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the company posted $0.81 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, analysts anticipate that MasTec, Inc. will post 2.71 EPS for the current year.

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.