DRW Securities LLC Takes Position in MasTec, Inc. (NYSE:MTZ)

DRW Securities LLC bought a new position in shares of MasTec, Inc. (NYSE:MTZ) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 24,000 shares of the construction company’s stock, valued at approximately $2,568,000.

Other hedge funds have also recently bought and sold shares of the company. Hobbs Group Advisors LLC purchased a new stake in MasTec during the second quarter worth approximately $27,000. Quarry LP purchased a new stake in MasTec during the 4th quarter worth $37,000. GAMMA Investing LLC increased its holdings in MasTec by 64.9% in the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after purchasing an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in MasTec in the second quarter valued at about $40,000. Finally, Bessemer Group Inc. lifted its stake in shares of MasTec by 5,436.4% during the first quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock worth $57,000 after purchasing an additional 598 shares in the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MTZ shares. Citigroup increased their target price on MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. B. Riley lifted their price objective on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Stifel Nicolaus boosted their target price on shares of MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. 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. Finally, Truist Financial reiterated a “hold” rating and issued a $112.00 price objective (up previously from $109.00) on shares of MasTec in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $117.50.

Insiders Place Their Bets

In other news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $116.26, for a total value of $348,780.00. Following the transaction, the director now directly owns 48,173 shares in the company, valued at approximately $5,600,592.98. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 21.30% of the stock is currently owned by corporate insiders.

MasTec Stock Performance

Shares of MTZ stock opened at $126.14 on Friday. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of -901.00 and a beta of 1.70. MasTec, Inc. has a one year low of $44.65 and a one year high of $127.97. The company’s 50-day simple moving average is $108.63 and its 200-day simple moving average is $102.49. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.23 and a current ratio of 1.27.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.09. MasTec had a return on equity of 6.42% and a net margin of 0.06%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the business posted $0.81 EPS. MasTec’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities analysts anticipate that MasTec, Inc. will post 2.71 earnings per share for the current fiscal year.

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.