Lombard Odier Asset Management Europe Ltd Takes $1.06 Million Position in MasTec, Inc. (NYSE:MTZ)

Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of MasTec, Inc. (NYSE:MTZ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,922 shares of the construction company’s stock, valued at approximately $1,062,000.

A number of other hedge funds have also made changes to their positions in the stock. Blue Trust Inc. increased its holdings in shares of MasTec by 32.6% during the 2nd quarter. Blue Trust Inc. now owns 561 shares of the construction company’s stock valued at $60,000 after acquiring an additional 138 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of MasTec by 64.9% during the 2nd quarter. GAMMA Investing LLC now owns 366 shares of the construction company’s stock valued at $39,000 after acquiring an additional 144 shares during the last quarter. DMC Group LLC increased its holdings in shares of MasTec by 5.5% during the 1st quarter. DMC Group LLC now owns 2,841 shares of the construction company’s stock valued at $265,000 after acquiring an additional 147 shares during the last quarter. MONECO Advisors LLC increased its holdings in shares of MasTec by 4.8% during the 4th quarter. MONECO Advisors LLC now owns 3,293 shares of the construction company’s stock valued at $249,000 after acquiring an additional 150 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of MasTec by 0.8% during the 1st quarter. New York State Teachers Retirement System now owns 26,557 shares of the construction company’s stock valued at $2,476,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.

MasTec Price Performance

Shares of MTZ stock opened at $125.38 on Tuesday. The stock has a 50 day moving average of $109.05 and a two-hundred day moving average of $102.82. 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 company has a market capitalization of $9.96 billion, a P/E ratio of -895.57 and a beta of 1.70.

MasTec (NYSE:MTZ) last posted its earnings results on Thursday, August 1st. The construction company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.87 by $0.09. The business had revenue of $2.96 billion during 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%. MasTec’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.81 EPS. As a group, equities analysts expect that MasTec, Inc. will post 2.71 EPS for the current year.

Analysts Set New Price Targets

MTZ has been the topic of a number of research analyst reports. B. Riley raised their target price on MasTec from $132.00 to $134.00 and gave the company a “buy” rating in a report on Monday, August 5th. Truist Financial reaffirmed a “hold” rating and issued a $112.00 target price (up previously from $109.00) on shares of MasTec in a report on Monday, August 5th. The Goldman Sachs Group raised their target price on MasTec from $88.00 to $109.00 and gave the company a “neutral” rating in a report on Tuesday, May 28th. Citigroup raised their target price on MasTec from $118.00 to $122.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, DA Davidson raised their target price on MasTec from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.50.

Insider Buying and Selling

In related news, 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 owns 48,173 shares in the company, valued at approximately $5,600,592.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 21.30% of the stock is owned by corporate insiders.

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.