Chesapeake Capital Corp IL Takes $302,000 Position in MasTec, Inc. (NYSE:MTZ)

Chesapeake Capital Corp IL bought a new stake in MasTec, Inc. (NYSE:MTZ) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,820 shares of the construction company’s stock, valued at approximately $302,000.

Several other institutional investors have also modified their holdings of MTZ. Victory Capital Management Inc. grew its position in shares of MasTec by 17.8% in the fourth quarter. Victory Capital Management Inc. now owns 12,628 shares of the construction company’s stock valued at $956,000 after purchasing an additional 1,906 shares during the period. M&T Bank Corp purchased a new position in shares of MasTec in the fourth quarter worth about $211,000. Private Advisor Group LLC purchased a new position in shares of MasTec in the fourth quarter worth about $206,000. Charles Schwab Investment Management Inc. lifted its stake in shares of MasTec by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 597,747 shares of the construction company’s stock worth $45,261,000 after buying an additional 25,779 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of MasTec in the fourth quarter worth about $430,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

MasTec stock opened at $102.78 on Wednesday. The company’s 50 day simple moving average is $106.58 and its 200-day simple moving average is $100.59. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of -734.14 and a beta of 1.70. MasTec, Inc. has a 1 year low of $44.65 and a 1 year high of $113.69. 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 quarterly earnings results on Thursday, August 1st. The construction company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.09. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.09 billion. MasTec had a net margin of 0.06% and a return on equity of 6.42%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. As a group, equities research analysts expect that MasTec, Inc. will post 2.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MTZ shares. DA Davidson raised their price target on shares of MasTec from $120.00 to $125.00 and gave the stock a “buy” rating in a research note 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 stock a “neutral” rating in a research note on Tuesday, May 28th. Stifel Nicolaus lifted their target price on shares of MasTec from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Citigroup lifted 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. Finally, Truist Financial reaffirmed a “hold” rating and set a $112.00 target price (up from $109.00) on shares of MasTec in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.