Entropy Technologies LP Makes New $1.30 Million Investment in MasTec, Inc. (NYSE:MTZ)

Entropy Technologies LP purchased a new stake in shares of MasTec, Inc. (NYSE:MTZ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,553 shares of the construction company’s stock, valued at approximately $1,301,000.

Several other hedge funds have also made changes to their positions in the company. Ameliora Wealth Management Ltd. acquired a new stake in shares of MasTec during the fourth quarter worth approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in MasTec in the 3rd quarter worth approximately $25,000. R Squared Ltd acquired a new stake in shares of MasTec during the 4th quarter valued at $44,000. UMB Bank n.a. grew its holdings in shares of MasTec by 46.3% during the 3rd quarter. UMB Bank n.a. now owns 379 shares of the construction company’s stock valued at $47,000 after acquiring an additional 120 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of MasTec in the third quarter worth $57,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.

MasTec Trading Down 0.4 %

Shares of NYSE:MTZ opened at $144.23 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.20 and a current ratio of 1.24. The stock’s 50-day moving average is $142.93 and its 200-day moving average is $129.18. The company has a market cap of $11.43 billion, a P/E ratio of 128.78 and a beta of 1.73. MasTec, Inc. has a 52-week low of $68.68 and a 52-week high of $166.95.

Analyst Ratings Changes

MTZ has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on MasTec from $154.00 to $172.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Stifel Nicolaus lifted their price target on MasTec from $155.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. KeyCorp increased their price objective on MasTec from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Guggenheim assumed coverage on shares of MasTec in a research report on Wednesday, January 8th. They issued a “buy” rating and a $195.00 target price for the company. Finally, Truist Financial raised their price target on shares of MasTec from $173.00 to $189.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.57.

Insider Activity at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now owns 42,478 shares of the company’s stock, valued at approximately $6,159,310. This represents a 6.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert E. Apple sold 10,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the chief operating officer now owns 187,202 shares of the company’s stock, valued at approximately $28,080,300. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. 21.30% of the stock is owned by corporate insiders.

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.