12,775 Shares in MasTec, Inc. (NYSE:MTZ) Bought by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 12,775 shares of the construction company’s stock, valued at approximately $1,367,000.

Several other institutional investors have also recently made changes to their positions in the stock. Point72 Asset Management L.P. increased its holdings in 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 acquiring an additional 502,039 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in shares of MasTec by 25.6% during the 4th quarter. Pinebridge Investments L.P. now owns 105,686 shares of the construction company’s stock valued at $8,004,000 after buying an additional 21,564 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in MasTec by 5.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 343,040 shares of the construction company’s stock worth $25,975,000 after buying an additional 18,402 shares during the period. FACT Capital LP increased its stake in MasTec by 20.7% in the 4th quarter. FACT Capital LP now owns 101,929 shares of the construction company’s stock worth $7,718,000 after buying an additional 17,511 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in MasTec by 42.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after acquiring an additional 312,991 shares during the period. Institutional investors own 78.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stifel Nicolaus increased their target price on 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 lifted their price objective on shares of MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. DA Davidson upped their target price on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. B. Riley lifted their price target on shares of MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Truist Financial reissued a “hold” rating and set 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.50.

Insider Transactions at MasTec

In related news, COO Robert E. Apple sold 20,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $126.27, for a total value of $2,525,400.00. Following 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other MasTec news, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $126.27, for a total transaction of $2,525,400.00. Following the completion of the transaction, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Robert Campbell sold 3,000 shares of the 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 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 Down 1.1 %

MTZ opened at $124.00 on Wednesday. The stock has a 50-day moving average of $109.41 and a 200 day moving average of $103.04. 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 market cap of $9.85 billion, a P/E ratio of -885.71 and a beta of 1.70.

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