Susquehanna Fundamental Investments LLC Cuts Stake in MasTec, Inc. (NYSE:MTZ)

Susquehanna Fundamental Investments LLC decreased its stake in MasTec, Inc. (NYSE:MTZ) by 46.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,500 shares of the construction company’s stock after selling 3,918 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in MasTec were worth $481,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MTZ. Hobbs Group Advisors LLC purchased a new position in shares of MasTec in the second quarter valued at $27,000. Quarry LP acquired a new stake in shares of MasTec during the fourth quarter valued at about $37,000. GAMMA Investing LLC increased its position in shares of MasTec by 64.9% during the second quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock worth $39,000 after acquiring an additional 144 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of MasTec in the second quarter worth about $40,000. Finally, Bessemer Group Inc. grew its stake in MasTec by 5,436.4% during the 1st quarter. Bessemer Group Inc. now owns 609 shares of the construction company’s stock valued at $57,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of MTZ opened at $125.66 on Friday. The firm has a market capitalization of $9.98 billion, a PE ratio of -897.57 and a beta of 1.70. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $111.45 and a 200 day moving average price of $104.47. MasTec, Inc. has a 52-week low of $44.65 and a 52-week high of $127.97.

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

Insider Activity at MasTec

In other MasTec news, COO Robert E. Apple sold 20,000 shares of MasTec stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 217,202 shares in the company, valued at $27,426,096.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other MasTec news, COO Robert E. Apple sold 20,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now owns 217,202 shares in the company, valued at approximately $27,426,096.54. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director C Robert Campbell sold 3,000 shares of the firm’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 transaction 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 approximately $5,600,592.98. The disclosure for this sale can be found here. Company insiders own 21.30% of the company’s stock.

Wall Street Analyst Weigh In

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

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.