MasTec, Inc. (NYSE:MTZ) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. decreased its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 734,211 shares of the construction company’s stock after selling 30,178 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.93% of MasTec worth $99,955,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership purchased a new stake in shares of MasTec during the 4th quarter worth approximately $59,910,000. First Trust Advisors LP grew its position in shares of MasTec by 173.8% in the 4th quarter. First Trust Advisors LP now owns 587,788 shares of the construction company’s stock valued at $80,021,000 after buying an additional 373,145 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in MasTec by 137.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 627,670 shares of the construction company’s stock worth $85,451,000 after acquiring an additional 363,502 shares in the last quarter. Merewether Investment Management LP acquired a new stake in MasTec during the 4th quarter worth $46,612,000. Finally, Freestone Grove Partners LP purchased a new stake in MasTec in the fourth quarter valued at $31,730,000. 78.10% of the stock is owned by institutional investors and hedge funds.

MasTec Trading Up 0.5%

Shares of MasTec stock opened at $157.52 on Thursday. The firm has a market cap of $12.43 billion, a price-to-earnings ratio of 140.64 and a beta of 1.71. MasTec, Inc. has a 52-week low of $89.96 and a 52-week high of $166.95. The company’s 50-day simple moving average is $124.39 and its 200-day simple moving average is $133.95. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

MasTec (NYSE:MTZ) last released its earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.17. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. MasTec had a return on equity of 8.27% and a net margin of 0.73%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.13) EPS. As a group, equities research analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current year.

Insider Buying and Selling

In other MasTec news, Director C Robert Campbell sold 3,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the sale, the director now directly owns 39,782 shares in the company, valued at approximately $6,122,051.98. The trade was a 7.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernst N. Csiszar sold 2,517 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $131.63, for a total transaction of $331,312.71. Following the transaction, the director now directly owns 23,000 shares in the company, valued at approximately $3,027,490. This trade represents a 9.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Stifel Nicolaus raised their price objective on MasTec from $143.00 to $171.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Truist Financial raised their price target on MasTec from $154.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Robert W. Baird cut their price target on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Barclays boosted their price objective on MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of MasTec from $154.00 to $172.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.33.

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.