Atika Capital Management LLC Makes New Investment in MasTec, Inc. (NYSE:MTZ)

Atika Capital Management LLC bought a new position in MasTec, Inc. (NYSE:MTZ) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 52,000 shares of the construction company’s stock, valued at approximately $7,079,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MTZ. FMR LLC grew its stake in MasTec by 18.1% in the 3rd quarter. FMR LLC now owns 3,382 shares of the construction company’s stock valued at $416,000 after buying an additional 518 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of MasTec by 140.6% in the third quarter. Captrust Financial Advisors now owns 4,541 shares of the construction company’s stock worth $559,000 after acquiring an additional 2,654 shares during the period. HighTower Advisors LLC grew its position in shares of MasTec by 9.8% in the third quarter. HighTower Advisors LLC now owns 3,511 shares of the construction company’s stock valued at $433,000 after purchasing an additional 312 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of MasTec by 94.3% during the 3rd quarter. Quantinno Capital Management LP now owns 21,802 shares of the construction company’s stock valued at $2,684,000 after purchasing an additional 10,583 shares during the period. Finally, Stifel Financial Corp lifted its holdings in MasTec by 2.8% during the 3rd quarter. Stifel Financial Corp now owns 10,105 shares of the construction company’s stock worth $1,244,000 after purchasing an additional 271 shares in the last quarter. Institutional investors own 78.10% of the company’s stock.

Insider Activity at MasTec

In other MasTec news, Director Ernst N. Csiszar sold 2,517 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $131.63, for a total value of $331,312.71. Following the completion of the sale, the director now owns 23,000 shares in the company, valued at approximately $3,027,490. The trade was a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MTZ. JPMorgan Chase & Co. upped their price target on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Barclays upped their target price on shares of MasTec from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Guggenheim reissued a “buy” rating and issued a $195.00 price target on shares of MasTec in a report on Tuesday, March 25th. Truist Financial upped their price target on shares of MasTec from $173.00 to $189.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus dropped their price objective on MasTec from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $160.07.

MasTec Trading Down 5.5 %

MTZ stock opened at $105.87 on Friday. The company has a market capitalization of $8.39 billion, a PE ratio of 94.53 and a beta of 1.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. MasTec, Inc. has a one year low of $82.29 and a one year high of $166.95. The company’s 50 day moving average price is $128.35 and its two-hundred day moving average price is $133.56.

MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.08. MasTec had a net margin of 0.73% and a return on equity of 8.27%. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.32 billion. As a group, analysts predict that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

MasTec Company 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.