Tributary Capital Management LLC Has $380,000 Position in MasTec, Inc. (NYSE:MTZ)

Tributary Capital Management LLC lowered its holdings in shares of MasTec, Inc. (NYSE:MTZ) by 4.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,070 shares of the construction company’s stock after selling 200 shares during the period. Tributary Capital Management LLC’s holdings in MasTec were worth $380,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MTZ. Nordea Investment Management AB boosted its stake in MasTec by 35.0% during the fourth quarter. Nordea Investment Management AB now owns 3,963,774 shares of the construction company’s stock worth $297,006,000 after buying an additional 1,027,085 shares in the last quarter. Norges Bank acquired a new stake in shares of MasTec in the 4th quarter valued at $46,970,000. Point72 Asset Management L.P. boosted its stake in shares of 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 valued at $77,439,000 after purchasing an additional 502,039 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in shares of MasTec by 42.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,041,868 shares of the construction company’s stock valued at $78,890,000 after purchasing an additional 312,991 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of MasTec by 95.0% in the 4th quarter. Schroder Investment Management Group now owns 614,839 shares of the construction company’s stock valued at $46,556,000 after purchasing an additional 299,567 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Stock Performance

Shares of NYSE:MTZ opened at $100.92 on Wednesday. The stock has a market capitalization of $8.02 billion, a P/E ratio of -720.86 and a beta of 1.65. MasTec, Inc. has a 1-year low of $44.65 and a 1-year high of $123.33. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average price of $105.52 and a two-hundred day moving average price of $87.86.

MasTec (NYSE:MTZ) last announced its quarterly earnings data on Thursday, May 2nd. The construction company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.33. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.62 billion. MasTec had a positive return on equity of 6.19% and a negative net margin of 0.09%. Equities analysts predict that MasTec, Inc. will post 2.58 earnings per share for the current year.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $110.00, for a total transaction of $220,000.00. Following the completion of the transaction, the director now directly owns 50,725 shares in the company, valued at approximately $5,579,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Javier Alberto Palomarez sold 2,850 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $106.67, for a total value of $304,009.50. Following the completion of the transaction, the director now directly owns 10,666 shares in the company, valued at approximately $1,137,742.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Robert Campbell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $110.00, for a total value of $220,000.00. Following the completion of the transaction, the director now owns 50,725 shares of the company’s stock, valued at $5,579,750. The disclosure for this sale can be found here. Corporate insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. DA Davidson boosted their target price on shares of MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. B. Riley restated a “buy” rating and issued a $132.00 target price on shares of MasTec in a research note on Thursday, June 27th. Truist Financial restated a “hold” rating and issued a $109.00 target price (up previously from $96.00) on shares of MasTec in a research note on Monday, May 6th. Stifel Nicolaus lifted their price target on MasTec from $100.00 to $120.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, TD Cowen lifted their price target on MasTec from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, May 6th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, MasTec has a consensus rating of “Moderate Buy” and an average target price of $116.23.

About MasTec

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.