MasTec, Inc. (NYSE:MTZ) Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP reduced its stake in MasTec, Inc. (NYSE:MTZ) by 28.1% in the fourth quarter, HoldingsChannel reports. The fund owned 16,525 shares of the construction company’s stock after selling 6,447 shares during the quarter. Brevan Howard Capital Management LP’s holdings in MasTec were worth $2,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MTZ. New York State Teachers Retirement System boosted its stake in MasTec by 21.7% during the fourth quarter. New York State Teachers Retirement System now owns 32,307 shares of the construction company’s stock valued at $4,398,000 after buying an additional 5,750 shares in the last quarter. Kingswood Wealth Advisors LLC raised its holdings in shares of MasTec by 45.8% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 28,498 shares of the construction company’s stock worth $3,880,000 after purchasing an additional 8,948 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in MasTec by 286.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,871 shares of the construction company’s stock valued at $2,433,000 after purchasing an additional 13,241 shares during the last quarter. Merit Financial Group LLC bought a new stake in MasTec during the fourth quarter worth approximately $415,000. Finally, CWA Asset Management Group LLC acquired a new position in MasTec in the fourth quarter worth approximately $485,000. Institutional investors and hedge funds own 78.10% of the company’s stock.

Insider Buying and Selling at MasTec

In related news, Director Ernst N. Csiszar sold 2,517 shares of the firm’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 transaction, the director now directly owns 23,000 shares of the company’s stock, valued at approximately $3,027,490. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 21.30% of the company’s stock.

MasTec Trading Up 0.9 %

Shares of NYSE MTZ opened at $144.86 on Wednesday. The stock has a market cap of $11.45 billion, a price-to-earnings ratio of 129.34 and a beta of 1.71. The business has a 50 day simple moving average of $121.11 and a 200 day simple moving average of $132.88. 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 52 week low of $89.96 and a 52 week high of $166.95.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MTZ. Piper Sandler increased their price objective on MasTec from $134.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday. JPMorgan Chase & Co. increased 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. Guggenheim reaffirmed a “buy” rating and set a $195.00 price objective on shares of MasTec in a research note on Monday. Citigroup lifted their target price on shares of MasTec from $152.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Barclays upped their price target on shares of MasTec from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MasTec currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

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.